Teacher Retirement System of Texas Takes Position in Freshworks Inc. (NASDAQ:FRSH)

Teacher Retirement System of Texas acquired a new position in shares of Freshworks Inc. (NASDAQ:FRSH) during the fourth quarter, Holdings Channel reports. The fund acquired 112,834 shares of the company’s stock, valued at approximately $1,825,000.

Several other large investors also recently made changes to their positions in FRSH. Avion Wealth bought a new position in Freshworks in the fourth quarter worth approximately $26,000. Blue Trust Inc. lifted its holdings in shares of Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after purchasing an additional 954 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after purchasing an additional 2,223 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Freshworks in the 3rd quarter valued at $57,000. Finally, KBC Group NV increased its stake in Freshworks by 59.1% during the 4th quarter. KBC Group NV now owns 7,604 shares of the company’s stock valued at $123,000 after purchasing an additional 2,824 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the sale, the director now owns 24,187 shares in the company, valued at $442,622.10. This represents a 25.87 % 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 Johanna Flower sold 1,450 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 41,491 shares of the company’s stock, valued at $747,252.91. The trade was a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,200 shares of company stock worth $1,073,021 over the last quarter. Corporate insiders own 19.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FRSH. Robert W. Baird set a $18.00 price objective on shares of Freshworks in a report on Wednesday, February 12th. Morgan Stanley boosted their price objective on Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Scotiabank raised their target price on Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Oppenheimer increased their price target on Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler lifted their price objective on shares of Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Freshworks has a consensus rating of “Moderate Buy” and a consensus price target of $21.14.

Freshworks Trading Down 4.8 %

Freshworks stock opened at $15.16 on Friday. The business’s 50 day simple moving average is $16.97 and its 200 day simple moving average is $15.03. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The company has a market cap of $4.57 billion, a price-to-earnings ratio of -47.38 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings results 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%. As a group, equities research analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current fiscal 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.