Thompson Davis & CO. Inc. Buys New Shares in Freshworks Inc. (NASDAQ:FRSH)

Thompson Davis & CO. Inc. purchased a new position in Freshworks Inc. (NASDAQ:FRSH) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,800 shares of the company’s stock, valued at approximately $170,000.

Several other institutional investors also recently modified their holdings of FRSH. Cornercap Investment Counsel Inc. bought a new stake in shares of Freshworks during the 3rd quarter worth $250,000. GSA Capital Partners LLP boosted its position in shares of Freshworks by 89.4% in the 3rd quarter. GSA Capital Partners LLP now owns 97,910 shares of the company’s stock valued at $1,124,000 after purchasing an additional 46,204 shares during the period. Versor Investments LP purchased a new position in Freshworks in the 3rd quarter worth about $383,000. State of New Jersey Common Pension Fund D raised its holdings in Freshworks by 19.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 163,392 shares of the company’s stock worth $1,876,000 after buying an additional 27,139 shares during the period. Finally, Covestor Ltd lifted its stake in Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.

Insider Transactions at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $12.19, for a total value of $102,798.27. Following the sale, the director now directly owns 23,497 shares in the company, valued at $286,428.43. This trade represents a 26.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were 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 of the company’s stock, valued at $400,478.01. This represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,463 shares of company stock worth $406,714. Company insiders own 19.15% of the company’s stock.

Freshworks Price Performance

Freshworks stock opened at $14.99 on Wednesday. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $24.98. The firm has a fifty day moving average price of $12.27 and a two-hundred day moving average price of $12.47. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of -44.09 and a beta of 0.72.

Wall Street Analyst Weigh In

Several research firms have weighed in on FRSH. Canaccord Genuity Group lifted their price objective on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JMP Securities upped their price target on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Robert W. Baird reduced their price objective on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Scotiabank dropped their target price on 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 cut their price target on Freshworks from $15.00 to $14.00 and set an “equal weight” 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. Based on data from MarketBeat.com, Freshworks currently has an average rating of “Moderate Buy” and a consensus price target of $18.69.

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.