EntryPoint Capital LLC Takes $241,000 Position in Freshworks Inc. (NASDAQ:FRSH)

EntryPoint Capital LLC bought a new position in shares of Freshworks Inc. (NASDAQ:FRSH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,901 shares of the company’s stock, valued at approximately $241,000.

Several other hedge funds have also recently bought and sold shares of the business. Smith Group Asset Management LLC acquired a new stake in shares of Freshworks in the fourth quarter worth $589,000. Barclays PLC increased its holdings in Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock valued at $3,875,000 after purchasing an additional 84,568 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Freshworks in the 3rd quarter valued at $1,193,000. Intech Investment Management LLC purchased a new position in Freshworks in the third quarter valued at about $867,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Freshworks in the fourth quarter worth about $20,666,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Stock Performance

Shares of FRSH stock opened at $14.53 on Friday. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of -45.41 and a beta of 0.92. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The company’s 50-day simple moving average is $16.92 and its 200-day simple moving average is $15.05.

Freshworks (NASDAQ:FRSH) last released its 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 return on equity of 6.63% and a negative net margin of 13.24%. As a group, research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FRSH. StockNews.com upgraded Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Scotiabank lifted their price objective on shares of Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Barclays upped their target price on shares of Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Morgan Stanley lifted their price target on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company cut shares of Freshworks from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $16.00 to $13.00 in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.14.

Insider Buying and Selling

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Thursday, January 2nd. The shares were 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 approximately $383,363.95. This represents a 25.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mika Yamamoto sold 2,859 shares of Freshworks stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total transaction of $45,286.56. Following the completion of the transaction, the insider now directly owns 400,249 shares of the company’s stock, valued at $6,339,944.16. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,200 shares of company stock worth $1,073,021 over the last ninety days. 19.15% of the stock is owned by insiders.

Freshworks Company 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.