Charles Schwab Investment Management Inc. Buys 53,185 Shares of Freshworks Inc. (NASDAQ:FRSH)

Charles Schwab Investment Management Inc. boosted its stake in Freshworks Inc. (NASDAQ:FRSH) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,609,957 shares of the company’s stock after acquiring an additional 53,185 shares during the period. Charles Schwab Investment Management Inc. owned 0.53% of Freshworks worth $26,033,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FRSH. Avion Wealth bought a new stake in shares of Freshworks during the 4th quarter valued at $26,000. Point72 Hong Kong Ltd bought a new stake in shares of Freshworks during the 3rd quarter valued at $57,000. Blue Trust Inc. boosted its holdings in shares of Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after buying an additional 954 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after buying an additional 2,223 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Freshworks by 59.1% during the 4th quarter. KBC Group NV now owns 7,604 shares of the company’s stock valued at $123,000 after buying an additional 2,824 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.

Insider Transactions at Freshworks

In other news, Chairman Rathnagirish Mathrubootham sold 830,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.33, for a total value of $12,723,900.00. Following the transaction, the chairman now owns 551,137 shares in the company, valued at $8,448,930.21. This represents a 60.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Johanna Flower sold 1,450 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $18.01, for a total transaction of $26,114.50. Following the completion of the transaction, the director now owns 41,491 shares in the company, valued at $747,252.91. This trade represents a 3.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,727,200 shares of company stock worth $27,223,721 in the last quarter. Company insiders own 19.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FRSH shares. Wells Fargo & Company cut shares of Freshworks from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. UBS Group set a $22.00 target price on shares of Freshworks in a report on Thursday, February 6th. Robert W. Baird set a $18.00 price target on shares of Freshworks in a research note on Wednesday, February 12th. Piper Sandler increased their price objective on shares of Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Scotiabank increased their price objective on shares of Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.14.

Freshworks Stock Performance

FRSH opened at $15.22 on Tuesday. The stock has a market capitalization of $4.59 billion, a P/E ratio of -47.56 and a beta of 0.92. The company’s 50-day simple moving average is $17.07 and its two-hundred day simple moving average is $14.85. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. Research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

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.