Diversified Trust Co Makes New Investment in Freshworks Inc. (NASDAQ:FRSH)

Diversified Trust Co purchased a new stake in shares of Freshworks Inc. (NASDAQ:FRSHGet Rating) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 33,300 shares of the company’s stock, valued at approximately $438,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FourThought Financial LLC bought a new stake in Freshworks during the 1st quarter worth approximately $47,000. Quantbot Technologies LP purchased a new position in shares of Freshworks during the 1st quarter valued at $59,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Freshworks by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 172,199 shares of the company’s stock worth $3,086,000 after purchasing an additional 4,202 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Freshworks by 57.6% in the first quarter. Newbridge Financial Services Group Inc. now owns 13,075 shares of the company’s stock worth $234,000 after buying an additional 4,780 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Freshworks by 1,141.4% during the first quarter. US Bancorp DE now owns 8,044 shares of the company’s stock valued at $144,000 after buying an additional 7,396 shares during the period. 31.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays dropped their price target on Freshworks from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 26th. Morgan Stanley cut their price target on shares of Freshworks from $23.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Oppenheimer lowered their price objective on shares of Freshworks from $26.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 3rd. Canaccord Genuity Group cut their target price on shares of Freshworks from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. Finally, Wolfe Research lifted their price target on Freshworks from $14.00 to $15.50 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Freshworks currently has a consensus rating of “Hold” and an average target price of $18.23.

Freshworks Trading Down 4.6 %

NASDAQ FRSH opened at $13.39 on Friday. The firm has a market cap of $3.83 billion and a PE ratio of -0.53. Freshworks Inc. has a 1-year low of $10.51 and a 1-year high of $53.36. The stock has a 50-day moving average of $14.24 and a 200-day moving average of $15.45.

Insider Buying and Selling

In related news, major shareholder Leaders 3 Gp Associates Accel acquired 439,708 shares of the stock in a transaction on Tuesday, September 20th. The stock was purchased at an average price of $14.66 per share, for a total transaction of $6,446,119.28. Following the completion of the transaction, the insider now owns 1,658,273 shares of the company’s stock, valued at approximately $24,310,282.18. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Freshworks news, Director Johanna Flower sold 4,700 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $14.96, for a total transaction of $70,312.00. Following the completion of the sale, the director now owns 16,110 shares of the company’s stock, valued at approximately $241,005.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Leaders 3 Gp Associates Accel purchased 439,708 shares of the company’s stock in a transaction on Tuesday, September 20th. The shares were purchased at an average cost of $14.66 per share, with a total value of $6,446,119.28. Following the transaction, the insider now directly owns 1,658,273 shares in the company, valued at $24,310,282.18. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,626,690 shares of company stock worth $23,932,894 and have sold 30,370 shares worth $454,162. 29.12% of the stock is owned by corporate insiders.

About Freshworks

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Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. Freshworks Inc was formerly known as Freshdesk Inc and changed its name to Freshworks Inc in June 2017. The company was incorporated in 2010 and is headquartered in San Mateo, California.

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Institutional Ownership by Quarter for Freshworks (NASDAQ:FRSH)

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