Freshworks Inc. (NASDAQ:FRSH) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. raised its stake in Freshworks Inc. (NASDAQ:FRSH) by 39.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 145,217 shares of the company’s stock after acquiring an additional 41,283 shares during the quarter. Edgestream Partners L.P.’s holdings in Freshworks were worth $2,348,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after acquiring an additional 1,752,995 shares during the period. State Street Corp lifted its holdings in Freshworks by 7.1% in the third quarter. State Street Corp now owns 4,729,093 shares of the company’s stock valued at $54,290,000 after acquiring an additional 313,982 shares during the period. Geode Capital Management LLC lifted its holdings in Freshworks by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock valued at $52,750,000 after acquiring an additional 66,342 shares during the period. Franklin Resources Inc. lifted its holdings in Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock valued at $44,934,000 after acquiring an additional 604,658 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Freshworks by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,609,957 shares of the company’s stock valued at $26,033,000 after acquiring an additional 53,185 shares during the period. 75.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Barry L. Padgett sold 2,345 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total value of $40,568.50. Following the completion of the sale, the director now directly owns 26,957 shares in the company, valued at $466,356.10. This represents a 8.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 4,690 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $16.74, for a total value of $78,510.60. Following the completion of the transaction, the director now directly owns 36,689 shares in the company, valued at approximately $614,173.86. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,739,953 shares of company stock worth $27,439,720 in the last three months. 19.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Robert W. Baird set a $18.00 price target on Freshworks in a report on Wednesday, February 12th. StockNews.com upgraded Freshworks from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Piper Sandler boosted their price objective on Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Barclays boosted their price objective on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Oppenheimer boosted their price objective on Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Freshworks has an average rating of “Moderate Buy” and a consensus target price of $21.14.

Freshworks Stock Performance

Shares of FRSH opened at $15.80 on Monday. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -49.38 and a beta of 0.92. The stock has a 50 day moving average price of $17.23 and a 200 day moving average price of $14.73.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. On average, analysts predict that Freshworks Inc. will post -0.19 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.