Freshworks Inc. (NASDAQ:FRSH) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 64.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,281 shares of the company’s stock after selling 38,427 shares during the period. Victory Capital Management Inc.’s holdings in Freshworks were worth $344,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Avion Wealth acquired a new position in Freshworks during the 4th quarter worth about $26,000. Blue Trust Inc. raised its position in Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after purchasing an additional 954 shares in the last quarter. Nisa Investment Advisors LLC raised its position 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 purchasing an additional 2,223 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Freshworks in the 3rd quarter valued at about $57,000. Finally, KBC Group NV raised its position in Freshworks by 59.1% in the 4th quarter. KBC Group NV now owns 7,604 shares of the company’s stock valued at $123,000 after purchasing an additional 2,824 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Stock Up 1.6 %

FRSH opened at $15.54 on Friday. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The business’s 50 day moving average is $17.02 and its two-hundred day moving average is $14.93. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of -48.56 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last announced its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. Equities analysts expect that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FRSH. JMP Securities set a $27.00 price target on Freshworks in a research report on Wednesday, February 12th. Oppenheimer increased their price target on Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Scotiabank increased their price target on Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group increased their price target on Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company lowered Freshworks from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $16.00 to $13.00 in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Freshworks currently has an average rating of “Moderate Buy” and an average target price of $21.14.

Insider Buying and Selling at Freshworks

In related news, insider Mika Yamamoto sold 2,859 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $15.84, for a total value of $45,286.56. Following the transaction, the insider now owns 400,249 shares in the company, valued at $6,339,944.16. The trade was a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total value of $154,488.60. Following the sale, the director now directly owns 24,187 shares of the company’s stock, valued at $442,622.10. The trade was a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,200 shares of company stock worth $1,073,021. 19.15% of the stock is owned by company insiders.

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.