137,100 Shares in Freshworks Inc. (NASDAQ:FRSH) Bought by Marshall Wace LLP

Marshall Wace LLP purchased a new stake in Freshworks Inc. (NASDAQ:FRSH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 137,100 shares of the company’s stock, valued at approximately $1,740,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of Freshworks by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after acquiring an additional 757 shares during the last quarter. CWM LLC raised 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 worth $43,000 after purchasing an additional 2,878 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Freshworks in the first quarter worth approximately $82,000. International Assets Investment Management LLC bought a new position in shares of Freshworks in the second quarter valued at approximately $58,000. Finally, Amalgamated Bank boosted its position in shares of Freshworks by 29.1% during the second quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock valued at $90,000 after buying an additional 1,588 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Insider Transactions at Freshworks

In other news, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $12.28, for a total value of $57,531.80. Following the completion of the transaction, the director now directly owns 35,853 shares in the company, valued at approximately $440,274.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $11.60, for a total value of $97,927.20. Following the sale, the director now owns 22,530 shares of the company’s stock, valued at $261,348. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $12.28, for a total value of $57,531.80. Following the transaction, the director now directly owns 35,853 shares of the company’s stock, valued at $440,274.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,240 shares of company stock valued at $539,472. 19.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FRSH has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research report on Wednesday, July 31st. StockNews.com lowered shares of Freshworks from a “buy” rating to a “hold” rating in a research report on Saturday, June 22nd. Cantor Fitzgerald reduced their price objective on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Scotiabank dropped their target price on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 31st. Finally, Barclays decreased their price target on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Freshworks has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Freshworks Trading Up 3.3 %

FRSH opened at $11.24 on Friday. Freshworks Inc. has a 12 month low of $10.84 and a 12 month high of $24.98. The company has a market cap of $3.36 billion, a PE ratio of -28.10 and a beta of 0.73. The company has a 50 day moving average of $11.52 and a 200 day moving average of $13.63.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $174.13 million during the quarter, compared to analyst estimates of $169.05 million. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the company earned ($0.12) earnings per share. Research analysts forecast that Freshworks Inc. will post -0.38 earnings per share 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.