Freshworks Inc. (NASDAQ:FRSH) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in Freshworks Inc. (NASDAQ:FRSH) by 10.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,428,755 shares of the company’s stock after buying an additional 239,671 shares during the quarter. Dimensional Fund Advisors LP owned 0.81% of Freshworks worth $30,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FRSH. CWM LLC boosted its stake in shares of Freshworks by 554.5% in the second 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 period. Advisors Asset Management Inc. grew its stake in shares of Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after acquiring an additional 757 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Freshworks during the second quarter worth $58,000. EntryPoint Capital LLC acquired a new stake in shares of Freshworks in the first quarter valued at $82,000. Finally, Hantz Financial Services Inc. purchased a new position in Freshworks in the second quarter valued at $136,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FRSH. Cantor Fitzgerald decreased their price objective on Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. StockNews.com downgraded Freshworks from a “buy” rating to a “hold” rating in a report on Saturday, June 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research note on Wednesday, July 31st. Finally, Barclays cut their price objective 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. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.69.

Freshworks Price Performance

FRSH opened at $11.20 on Wednesday. The business has a 50 day simple moving average of $11.69 and a 200-day simple moving average of $13.80. The stock has a market capitalization of $3.35 billion, a P/E ratio of -28.00 and a beta of 0.73. Freshworks Inc. has a 12 month low of $10.89 and a 12 month high of $24.98.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $174.13 million during 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% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) EPS. Research analysts anticipate that Freshworks Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling

In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $11.60, for a total transaction of $97,927.20. Following the sale, the director now directly owns 22,530 shares in the company, valued at $261,348. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Freshworks news, Director Roxanne S. Austin sold 6,303 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was 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 of the company’s stock, valued at $2,503,249.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $11.60, for a total value of $97,927.20. Following the completion of the sale, the director now owns 22,530 shares in the company, valued at $261,348. The disclosure for this sale can be found here. Insiders have sold a total of 38,798 shares of company stock worth $446,272 in the last quarter. Company 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.