International Assets Investment Management LLC Makes New $58,000 Investment in Freshworks Inc. (NASDAQ:FRSH)

International Assets Investment Management LLC acquired a new stake in Freshworks Inc. (NASDAQ:FRSH) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 4,546 shares of the company’s stock, valued at approximately $58,000.

A number of other institutional investors have also recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in Freshworks by 1.5% in the fourth quarter. Russell Investments Group Ltd. now owns 195,031 shares of the company’s stock valued at $4,583,000 after purchasing an additional 2,918 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Freshworks by 31.4% in the 4th quarter. Victory Capital Management Inc. now owns 21,308 shares of the company’s stock valued at $501,000 after buying an additional 5,093 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Freshworks by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,304,325 shares of the company’s stock worth $30,639,000 after acquiring an additional 67,254 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Freshworks by 13.9% during the 4th quarter. Teacher Retirement System of Texas now owns 28,714 shares of the company’s stock worth $674,000 after acquiring an additional 3,503 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Freshworks by 16.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,731,120 shares of the company’s stock valued at $40,667,000 after acquiring an additional 245,242 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors.

Freshworks Trading Up 0.2 %

NASDAQ FRSH opened at $11.55 on Thursday. The firm has a market capitalization of $3.45 billion, a PE ratio of -28.88 and a beta of 0.74. The business’s 50-day moving average price is $12.27 and its two-hundred day moving average price is $14.89. Freshworks Inc. has a 12 month low of $10.96 and a 12 month high of $24.98.

Freshworks (NASDAQ:FRSH) last announced its earnings results on Tuesday, July 30th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The business had revenue of $174.13 million for the quarter, compared to analysts’ expectations of $169.05 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. As a group, analysts forecast that Freshworks Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $11.60, for a total transaction of $97,927.20. Following the sale, the director now owns 22,530 shares of the company’s stock, valued at $261,348. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $12.28, for a total value of $57,531.80. Following the completion of the sale, the director now directly owns 35,853 shares in the company, valued at $440,274.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $11.60, for a total value of $97,927.20. Following the transaction, the director now owns 22,530 shares in the company, valued at $261,348. The disclosure for this sale can be found here. Insiders sold a total of 46,694 shares of company stock worth $554,318 over the last three months. 19.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Cantor Fitzgerald cut their target price on Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Jefferies Financial Group reduced their price objective on Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on Freshworks from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research note on Wednesday, July 31st. Finally, Barclays lowered their price objective on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Freshworks currently has an average rating of “Moderate Buy” and a consensus target price of $19.40.

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.