Dalton Investments Inc. Acquires 23,500 Shares of Freshworks Inc. (NASDAQ:FRSH)

Dalton Investments Inc. raised its holdings in Freshworks Inc. (NASDAQ:FRSH) by 21.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,200 shares of the company’s stock after purchasing an additional 23,500 shares during the quarter. Freshworks makes up about 1.0% of Dalton Investments Inc.’s investment portfolio, making the stock its 16th largest position. Dalton Investments Inc.’s holdings in Freshworks were worth $1,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Board of Trustees of The Leland Stanford Junior University raised its holdings in shares of Freshworks by 1.9% in the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 35,019 shares of the company’s stock valued at $823,000 after buying an additional 638 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Freshworks by 34.2% during the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after purchasing an additional 757 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Freshworks by 0.5% during the first quarter. California State Teachers Retirement System now owns 161,706 shares of the company’s stock valued at $2,945,000 after purchasing an additional 831 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Freshworks by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 13,755 shares of the company’s stock valued at $250,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Amalgamated Bank raised its position in Freshworks by 29.1% in the 2nd quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock worth $90,000 after purchasing an additional 1,588 shares during the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Trading Down 2.1 %

Shares of Freshworks stock opened at $11.33 on Friday. Freshworks Inc. has a 12 month low of $10.96 and a 12 month high of $24.98. The company has a market capitalization of $3.39 billion, a PE ratio of -28.33 and a beta of 0.73. The stock’s fifty day simple moving average is $11.94 and its 200 day simple moving average is $14.14.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.08 earnings per share 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 quarter in the previous year, the business posted ($0.12) EPS. Freshworks’s revenue for the quarter was up 20.0% on a year-over-year basis. Analysts predict that Freshworks Inc. will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

FRSH has been the subject of several research reports. StockNews.com cut Freshworks from a “buy” rating to a “hold” rating in a research note on Saturday, June 22nd. Piper Sandler dropped their price objective on Freshworks from $22.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Cantor Fitzgerald reduced their target price on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Canaccord Genuity Group lowered their price target on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.69.

Insider Buying and Selling at Freshworks

In other news, Director Barry L. Padgett sold 5,546 shares of the stock in a transaction on Monday, July 1st. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $11.60, for a total transaction of $97,927.20. Following the completion of the transaction, the director now owns 22,530 shares of the company’s stock, valued at approximately $261,348. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Barry L. Padgett sold 5,546 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 26,957 shares of the company’s stock, valued at $344,240.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,344 shares of company stock valued at $517,094. 19.15% of the stock is currently owned by corporate 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.