Creative Planning Invests $482,000 in Freshworks Inc. (NASDAQ:FRSH)

Creative Planning purchased a new position in Freshworks Inc. (NASDAQ:FRSH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,006 shares of the company’s stock, valued at approximately $482,000.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after acquiring an additional 757 shares during the last quarter. CWM LLC boosted its position in Freshworks by 554.5% during the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after buying an additional 2,878 shares during the period. Quarry LP boosted its holdings in shares of Freshworks by 157.6% during the second quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after purchasing an additional 2,645 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Freshworks during the first quarter worth about $82,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Freshworks during the second quarter worth about $58,000. Institutional investors own 75.58% of the company’s stock.

Insider Buying and Selling

In related news, Director Roxanne S. Austin sold 6,303 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $11.22, for a total value of $70,719.66. Following the completion of the transaction, the director now directly owns 223,106 shares in the company, valued at $2,503,249.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.54, for a total transaction of $97,316.82. Following the completion of the sale, the director now owns 22,530 shares of the company’s stock, valued at $259,996.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roxanne S. Austin sold 6,303 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $11.22, for a total transaction of $70,719.66. Following the sale, the director now directly owns 223,106 shares of the company’s stock, valued at approximately $2,503,249.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,456 shares of company stock worth $530,102 in the last three months. Insiders own 19.15% of the company’s stock.

Freshworks Stock Performance

FRSH stock opened at $13.09 on Thursday. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $24.98. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -37.40 and a beta of 0.72. The firm has a 50 day moving average price of $11.45 and a 200-day moving average price of $12.60.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group dropped their target price on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Barclays decreased their price target on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Piper Sandler decreased their price target on shares of Freshworks from $17.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Scotiabank decreased their price target on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.54.

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.