Diversified Trust Co Sells 2,944 Shares of Freshworks Inc. (NASDAQ:FRSH)

Diversified Trust Co trimmed its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 5.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,576 shares of the company’s stock after selling 2,944 shares during the quarter. Diversified Trust Co’s holdings in Freshworks were worth $848,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of FRSH. Invesco Ltd. increased its stake in Freshworks by 266.6% during the 3rd quarter. Invesco Ltd. now owns 470,093 shares of the company’s stock worth $9,364,000 after purchasing an additional 341,863 shares in the last quarter. Northern Trust Corp increased its stake in Freshworks by 4.0% during the 3rd quarter. Northern Trust Corp now owns 1,637,507 shares of the company’s stock worth $32,619,000 after purchasing an additional 63,726 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Freshworks during the 3rd quarter worth approximately $2,445,000. Gotham Asset Management LLC bought a new stake in Freshworks during the 3rd quarter worth approximately $1,170,000. Finally, Schonfeld Strategic Advisors LLC increased its stake in Freshworks by 140.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 73,500 shares of the company’s stock worth $1,464,000 after purchasing an additional 42,900 shares in the last quarter. 75.58% of the stock is owned by institutional investors.

Freshworks Price Performance

Shares of Freshworks stock opened at $13.04 on Wednesday. The business has a fifty day simple moving average of $13.76 and a two-hundred day simple moving average of $18.18. Freshworks Inc. has a 1 year low of $11.90 and a 1 year high of $24.98. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -32.60 and a beta of 0.74.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Freshworks had a negative return on equity of 10.66% and a negative net margin of 18.93%. The company had revenue of $165.14 million during the quarter, compared to the consensus estimate of $163.53 million. As a group, equities analysts anticipate that Freshworks Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Freshworks

In other news, Director Barry L. Padgett sold 5,546 shares of Freshworks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $12.77, for a total transaction of $70,822.42. Following the completion of the sale, the director now owns 26,957 shares of the company’s stock, valued at $344,240.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $12.75, for a total value of $107,635.50. Following the transaction, the director now owns 16,535 shares in the company, valued at $210,821.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry L. Padgett sold 5,546 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $12.77, for a total value of $70,822.42. Following the completion of the transaction, the director now owns 26,957 shares in the company, valued at approximately $344,240.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,646 shares of company stock valued at $513,291. 19.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FRSH. StockNews.com cut shares of Freshworks from a “buy” rating to a “hold” rating in a research note on Saturday, June 22nd. JMP Securities decreased their price target on shares of Freshworks from $29.00 to $21.00 and set a “market outperform” rating for the company in a research note on Thursday, May 2nd. Piper Sandler decreased their price target on shares of Freshworks from $28.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Oppenheimer cut shares of Freshworks from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley decreased their price target on shares of Freshworks from $22.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Freshworks has a consensus rating of “Moderate Buy” and an average target price of $22.00.

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.