SG Americas Securities LLC Acquires New Shares in Freshworks Inc. (NASDAQ:FRSH)

SG Americas Securities LLC acquired a new stake in Freshworks Inc. (NASDAQ:FRSH) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 22,634 shares of the company’s stock, valued at approximately $260,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Freshworks by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock valued at $385,525,000 after buying an additional 1,354,530 shares in the last quarter. Sei Investments Co. increased its holdings in Freshworks by 191.9% during the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock worth $1,216,000 after purchasing an additional 63,006 shares in the last quarter. ProShare Advisors LLC increased its holdings in Freshworks by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 29,127 shares of the company’s stock worth $530,000 after purchasing an additional 2,293 shares in the last quarter. Marshall Wace LLP bought a new position in Freshworks during the 2nd quarter worth about $1,740,000. Finally, Canada Pension Plan Investment Board increased its holdings in Freshworks by 41.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 505,400 shares of the company’s stock worth $6,414,000 after purchasing an additional 147,700 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.

Insiders Place Their Bets

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total transaction of $52,331.45. Following the completion of the sale, the director now directly owns 35,853 shares in the company, valued at $400,478.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $11.60, for a total transaction of $97,927.20. Following the transaction, the director now directly owns 22,530 shares of the company’s stock, valued at approximately $261,348. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $11.17, for a total transaction of $52,331.45. Following the transaction, the director now directly owns 35,853 shares in the company, valued at $400,478.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,245 shares of company stock worth $533,811 over the last three months. Insiders own 19.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FRSH shares. JPMorgan Chase & Co. lowered their target price on Freshworks from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Jefferies Financial Group lowered their target price on Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Cantor Fitzgerald lowered their target price on Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Scotiabank lowered their target price on Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, July 31st. Finally, Canaccord Genuity Group decreased their price objective on Freshworks from $20.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.86.

Freshworks Stock Performance

Shares of NASDAQ:FRSH opened at $11.30 on Monday. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $24.98. The company has a market capitalization of $3.38 billion, a P/E ratio of -28.25 and a beta of 0.73. The company has a 50-day simple moving average of $11.40 and a 200 day simple moving average of $13.12.

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

Freshworks 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.