Ieq Capital LLC Boosts Stock Position in Freshworks Inc. (NASDAQ:FRSH)

Ieq Capital LLC lifted its position in Freshworks Inc. (NASDAQ:FRSH) by 29.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,462,541 shares of the company’s stock after buying an additional 331,298 shares during the quarter. Ieq Capital LLC’s holdings in Freshworks were worth $23,649,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Avion Wealth purchased a new stake in Freshworks during the 4th quarter worth about $26,000. Blue Trust Inc. increased its holdings in Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after purchasing an additional 2,822 shares during the period. Covestor Ltd increased its holdings in Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after purchasing an additional 1,704 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Freshworks during the 3rd quarter worth about $57,000. Finally, Nisa Investment Advisors LLC increased its holdings in Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after purchasing an additional 2,223 shares during the period. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mika Yamamoto sold 5,718 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $16.95, for a total transaction of $96,920.10. Following the completion of the transaction, the insider now directly owns 403,108 shares of the company’s stock, valued at approximately $6,832,680.60. This represents a 1.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Rathnagirish Mathrubootham sold 835,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $16.08, for a total value of $13,426,800.00. Following the transaction, the chairman now directly owns 551,137 shares of the company’s stock, valued at approximately $8,862,282.96. This trade represents a 60.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,727,211 shares of company stock valued at $27,224,746. 19.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com upgraded Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Barclays increased their price objective on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Morgan Stanley increased their price objective on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Wells Fargo & Company downgraded Freshworks from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. Finally, Needham & Company LLC increased their price objective on Freshworks from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Freshworks has a consensus rating of “Moderate Buy” and a consensus target price of $21.07.

Freshworks Trading Up 0.3 %

Freshworks stock opened at $17.65 on Thursday. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $21.07. The stock has a 50 day moving average of $17.05 and a two-hundred day moving average of $14.25. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of -55.16 and a beta of 0.91.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. Equities analysts predict that Freshworks Inc. will post -0.19 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.