Nisa Investment Advisors LLC Grows Position in Freshworks Inc. (NASDAQ:FRSH)

Nisa Investment Advisors LLC raised its holdings in Freshworks Inc. (NASDAQ:FRSH) by 102.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,393 shares of the company’s stock after purchasing an additional 2,223 shares during the period. Nisa Investment Advisors LLC’s holdings in Freshworks were worth $71,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FRSH. Blue Trust Inc. boosted its holdings in Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after buying an additional 2,822 shares during the period. Covestor Ltd lifted its position in shares of Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares in the last quarter. Quarry LP boosted its holdings in shares of Freshworks by 157.6% in the second 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 period. Point72 Hong Kong Ltd purchased a new position in shares of Freshworks in the third quarter valued at $57,000. Finally, International Assets Investment Management LLC raised its stake in shares of Freshworks by 121.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,056 shares of the company’s stock valued at $115,000 after purchasing an additional 5,510 shares during the period. Institutional investors own 75.58% of the company’s stock.

Analyst Upgrades and Downgrades

FRSH has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer upgraded shares of Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Thursday, January 16th. Robert W. Baird decreased their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Freshworks in a research note on Wednesday, January 15th. Finally, Piper Sandler boosted their price target on shares of Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.07.

Freshworks Stock Down 3.6 %

Shares of FRSH stock opened at $18.60 on Friday. The business has a 50-day moving average price of $16.59 and a two-hundred day moving average price of $13.76. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $23.00. The firm has a market cap of $5.63 billion, a P/E ratio of -54.70 and a beta of 0.88.

Insider Activity at Freshworks

In related news, Chairman Rathnagirish Mathrubootham sold 835,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $16.08, for a total transaction of $13,426,800.00. Following the completion of the sale, the chairman now directly owns 551,137 shares in the company, valued at $8,862,282.96. This represents a 60.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Johanna Flower sold 21,400 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $18.00, for a total value of $385,200.00. Following the transaction, the director now owns 41,491 shares in the company, valued at approximately $746,838. The trade was a 34.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,723,563 shares of company stock valued at $27,106,218. Corporate insiders own 19.15% of the company’s stock.

Freshworks 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.