KBC Group NV Buys 2,824 Shares of Freshworks Inc. (NASDAQ:FRSH)

KBC Group NV grew its stake in Freshworks Inc. (NASDAQ:FRSH) by 59.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,604 shares of the company’s stock after buying an additional 2,824 shares during the quarter. KBC Group NV’s holdings in Freshworks were worth $123,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased 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 acquiring an additional 2,822 shares in the last quarter. Covestor Ltd grew 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 purchasing an additional 1,704 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Freshworks during the 3rd quarter valued at approximately $57,000. Nisa Investment Advisors LLC increased its holdings in Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after acquiring an additional 2,223 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Freshworks by 121.2% during the third quarter. International Assets Investment Management LLC now owns 10,056 shares of the company’s stock valued at $115,000 after buying an additional 5,510 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Insider Transactions at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total transaction of $45,286.56. Following the transaction, the insider now owns 400,249 shares in the company, valued at approximately $6,339,944.16. This represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Barry L. Padgett sold 2,345 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total value of $40,568.50. Following the completion of the transaction, the director now owns 26,957 shares of the company’s stock, valued at $466,356.10. This trade represents a 8.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,727,211 shares of company stock valued at $27,224,746. Company insiders own 19.15% of the company’s stock.

Freshworks Price Performance

NASDAQ:FRSH opened at $17.89 on Friday. The firm has a market cap of $5.42 billion, a PE ratio of -52.62 and a beta of 0.91. The company has a 50-day moving average of $16.82 and a 200 day moving average of $13.94. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $22.14.

Analyst Ratings Changes

FRSH has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Freshworks in a report on Wednesday, January 15th. Oppenheimer raised Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Thursday, January 16th. JMP Securities increased their price target on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Morgan Stanley lifted their price objective on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.07.

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.