Lake Street Advisors Group LLC purchased a new position in shares of Freshworks Inc. (NASDAQ:FRSH – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 686,944 shares of the company’s stock, valued at approximately $8,717,000. Lake Street Advisors Group LLC owned about 0.23% of Freshworks as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in shares of Freshworks in the 4th quarter valued at $483,000. Russell Investments Group Ltd. lifted its holdings in shares of Freshworks by 1.5% during the fourth quarter. Russell Investments Group Ltd. now owns 195,031 shares of the company’s stock worth $4,583,000 after purchasing an additional 2,918 shares during the period. Victory Capital Management Inc. boosted its position in Freshworks by 31.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,308 shares of the company’s stock valued at $501,000 after buying an additional 5,093 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Freshworks by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,304,325 shares of the company’s stock worth $30,639,000 after buying an additional 67,254 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Freshworks by 13.9% during the 4th quarter. Teacher Retirement System of Texas now owns 28,714 shares of the company’s stock worth $674,000 after buying an additional 3,503 shares during the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.
Insider Activity
In related news, Director Barry L. Padgett sold 5,546 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $12.77, for a total transaction of $70,822.42. Following the completion of the sale, the director now directly owns 26,957 shares in the company, valued at $344,240.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $12.28, for a total value of $57,531.80. Following the transaction, the director now directly owns 35,853 shares of the company’s stock, valued at approximately $440,274.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry L. Padgett sold 5,546 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $12.77, for a total value of $70,822.42. Following the completion of the sale, the director now owns 26,957 shares of the company’s stock, valued at $344,240.89. The disclosure for this sale can be found here. Insiders have sold a total of 46,694 shares of company stock worth $554,318 over the last quarter. 19.15% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Check Out Our Latest Analysis on Freshworks
Freshworks Stock Performance
NASDAQ:FRSH opened at $11.35 on Friday. The stock has a market capitalization of $3.39 billion, a PE ratio of -28.38 and a beta of 0.73. Freshworks Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $24.98. The company has a fifty day moving average of $12.22 and a two-hundred day moving average of $14.80.
Freshworks (NASDAQ:FRSH – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The firm had revenue of $174.13 million during the quarter, compared to the consensus estimate of $169.05 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. Research analysts forecast that Freshworks Inc. will post -0.38 earnings per share for the current year.
Freshworks 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.
Featured Stories
- Five stocks we like better than Freshworks
- Investing In Preferred Stock vs. Common Stock
- Is Merck Stock Undervalued After Its Colossal Earnings Growth?
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Top 5 ETFs for Every Investor: From Semiconductors to Defense
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- Blade Air Mobility: This Under-the-Radar Stock Could Double Soon
Want to see what other hedge funds are holding FRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freshworks Inc. (NASDAQ:FRSH – Free Report).
Receive News & Ratings for Freshworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshworks and related companies with MarketBeat.com's FREE daily email newsletter.