Stanley Laman Group Ltd. Has $7.02 Million Position in Freshworks Inc. (NASDAQ:FRSH)

Stanley Laman Group Ltd. reduced its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 15.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 611,509 shares of the company’s stock after selling 108,178 shares during the quarter. Freshworks accounts for 1.0% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 16th biggest holding. Stanley Laman Group Ltd. owned about 0.20% of Freshworks worth $7,020,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FRSH. Blue Trust Inc. raised its stake in Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after purchasing an additional 2,822 shares during the period. CWM LLC increased its stake in shares of Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after acquiring an additional 2,878 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after acquiring an additional 757 shares during the last quarter. Quarry LP increased its stake in shares of Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after acquiring an additional 2,645 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Freshworks in the second quarter worth $58,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FRSH has been the topic of a number of research reports. Canaccord Genuity Group dropped their price target on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company initiated coverage on shares of Freshworks in a research note on Wednesday, October 16th. They issued an “equal weight” rating and a $11.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Scotiabank decreased their price objective on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Freshworks presently has an average rating of “Moderate Buy” and an average price target of $17.86.

Insider Buying and Selling

In related news, Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $11.06, for a total value of $51,871.40. Following the completion of the transaction, the director now owns 36,689 shares of the company’s stock, valued at $405,780.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jennifer H. Taylor sold 4,690 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $11.06, for a total transaction of $51,871.40. Following the completion of the sale, the director now owns 36,689 shares of the company’s stock, valued at approximately $405,780.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $11.60, for a total transaction of $97,927.20. Following the completion of the transaction, the director now directly owns 22,530 shares in the company, valued at approximately $261,348. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,245 shares of company stock valued at $533,811 over the last quarter. Corporate insiders own 19.15% of the company’s stock.

Freshworks Stock Performance

Shares of FRSH opened at $11.40 on Wednesday. The company has a 50-day simple moving average of $11.41 and a 200-day simple moving average of $13.02. The firm has a market capitalization of $3.41 billion, a P/E ratio of -28.50 and a beta of 0.73. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $24.98.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $174.13 million during the quarter, compared to analyst estimates of $169.05 million. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. As a group, equities analysts forecast that Freshworks Inc. will post -0.38 earnings per share for the current year.

About Freshworks

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.