126,367 Shares in Freshworks Inc. (NASDAQ:FRSH) Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC purchased a new stake in shares of Freshworks Inc. (NASDAQ:FRSH) in the fourth quarter, Holdings Channel.com reports. The fund purchased 126,367 shares of the company’s stock, valued at approximately $2,043,000.

Several other institutional investors have also recently bought and sold shares of FRSH. Blue Trust Inc. raised its stake in shares of Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after acquiring an additional 954 shares during the last quarter. Avion Wealth acquired a new stake in shares of Freshworks in the fourth quarter valued at approximately $26,000. Covestor Ltd raised its position in Freshworks by 89.9% in 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 last quarter. Nisa Investment Advisors LLC lifted 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 buying an additional 2,223 shares in the last quarter. Finally, KBC Group NV boosted its position in Freshworks by 59.1% in the 4th quarter. KBC Group NV now owns 7,604 shares of the company’s stock valued at $123,000 after buying an additional 2,824 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group boosted their target price on Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their price objective on Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Robert W. Baird cut their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Cantor Fitzgerald lifted their price target on shares of Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, JMP Securities boosted their price target on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.62.

Freshworks Stock Performance

FRSH opened at $17.06 on Friday. The firm’s fifty day moving average is $17.16 and its two-hundred day moving average is $14.48. The firm has a market cap of $5.17 billion, a PE ratio of -53.31 and a beta of 0.91. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $20.60.

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

Insider Transactions at Freshworks

In other news, Director Johanna Flower sold 1,450 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $18.01, for a total value of $26,114.50. Following the completion of the transaction, the director now owns 41,491 shares in the company, valued at $747,252.91. This represents a 3.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.85, for a total transaction of $133,663.05. Following the sale, the director now directly owns 24,187 shares of the company’s stock, valued at $383,363.95. This represents a 25.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,728,661 shares of company stock valued at $27,250,861 over the last 90 days. 19.15% of the stock is owned by company insiders.

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.