Freshworks Inc. $FRSH Position Reduced by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. lessened its holdings in Freshworks Inc. (NASDAQ:FRSH) by 9.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 496,264 shares of the company’s stock after selling 52,922 shares during the quarter. Freshworks accounts for 1.1% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 7th biggest position. Stanley Laman Group Ltd.’s holdings in Freshworks were worth $7,399,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Xponance Inc. raised its position in Freshworks by 5.1% in the 1st quarter. Xponance Inc. now owns 15,605 shares of the company’s stock worth $220,000 after purchasing an additional 758 shares during the period. Amundi raised its position in Freshworks by 1.3% in the 1st quarter. Amundi now owns 80,074 shares of the company’s stock worth $1,049,000 after purchasing an additional 1,040 shares during the period. Verdence Capital Advisors LLC raised its position in Freshworks by 7.4% in the 2nd quarter. Verdence Capital Advisors LLC now owns 15,547 shares of the company’s stock worth $232,000 after purchasing an additional 1,070 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Freshworks by 11.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,694 shares of the company’s stock valued at $174,000 after acquiring an additional 1,160 shares during the period. Finally, Legato Capital Management LLC increased its position in shares of Freshworks by 4.0% in the first quarter. Legato Capital Management LLC now owns 33,080 shares of the company’s stock valued at $467,000 after acquiring an additional 1,260 shares during the period. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Insider Buying and Selling at Freshworks

In related news, CAO Philippa Lawrence sold 2,590 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $12.53, for a total transaction of $32,452.70. Following the sale, the chief accounting officer owned 415,949 shares of the company’s stock, valued at $5,211,840.97. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $12.96, for a total transaction of $60,717.60. Following the sale, the director directly owned 44,218 shares in the company, valued at $573,065.28. The trade was a 9.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,329 shares of company stock worth $534,620. Insiders own 11.17% of the company’s stock.

Freshworks Price Performance

Shares of NASDAQ FRSH opened at $10.88 on Friday. Freshworks Inc. has a 1 year low of $10.76 and a 1 year high of $19.77. The company’s 50-day moving average is $12.52 and its 200 day moving average is $13.68. The stock has a market capitalization of $3.17 billion, a P/E ratio of -60.44 and a beta of 0.91.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Thursday, September 11th. The company reported $0.18 earnings per share (EPS) for the quarter. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The company had revenue of $204.68 million for the quarter. Research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FRSH. Zacks Research upgraded shares of Freshworks from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Morgan Stanley decreased their price objective on shares of Freshworks from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, September 12th. Piper Sandler boosted their price objective on shares of Freshworks from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Freshworks in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company began coverage on shares of Freshworks in a research report on Tuesday, September 30th. They issued an “equal weight” rating and a $13.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.07.

Freshworks Company Profile

Freshworks Inc, a software development company, provides software-as-a-service products worldwide. It offers Freshworks Customer Service Suite, which provides automated, personalized self-service on various channels, including web, chat, mobile messaging, email, and social; Freshdesk, a ticketing-centric customer service solution; Freshsuccess, a customer success solution; and Freshchat that provides agents with a modern conversational experience to proactively engage customers across digital messaging channels.