Blue Trust Inc. Has $38,000 Position in Freshworks Inc. (NASDAQ:FRSH)

Blue Trust Inc. grew its position in Freshworks Inc. (NASDAQ:FRSH) by 1,987.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,964 shares of the company’s stock after buying an additional 2,822 shares during the quarter. Blue Trust Inc.’s holdings in Freshworks were worth $38,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FRSH. CWM LLC grew its holdings in shares of Freshworks by 554.5% during the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after purchasing an additional 2,878 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Freshworks by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after acquiring an additional 757 shares during the last quarter. Quarry LP grew its holdings in Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after acquiring an additional 2,645 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Freshworks during the 2nd quarter worth approximately $58,000. Finally, EntryPoint Capital LLC bought a new stake in Freshworks during the 1st quarter worth approximately $82,000. 75.58% of the stock is owned by institutional investors.

Freshworks Trading Up 3.0 %

FRSH opened at $12.05 on Friday. The company’s fifty day moving average price is $11.41 and its two-hundred day moving average price is $12.77. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $24.98. The company has a market cap of $3.64 billion, a price-to-earnings ratio of -34.48 and a beta of 0.73.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FRSH shares. Barclays reduced their target price on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group reduced their price objective on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler reduced their price objective on shares of Freshworks from $17.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Scotiabank reduced their price objective on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company initiated coverage on shares of Freshworks in a research report on Wednesday, October 16th. They set an “equal weight” rating and a $11.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.86.

Insider Activity

In other news, Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $11.23, for a total value of $52,668.70. Following the completion of the sale, the director now owns 35,853 shares in the company, valued at $402,629.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Roxanne S. Austin sold 6,303 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $11.22, for a total transaction of $70,719.66. Following the completion of the transaction, the director now owns 223,106 shares in the company, valued at approximately $2,503,249.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $11.23, for a total transaction of $52,668.70. Following the transaction, the director now owns 35,853 shares of the company’s stock, valued at approximately $402,629.19. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,803 shares of company stock worth $435,884 over the last quarter. Insiders own 19.15% of the company’s stock.

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.