Arizona State Retirement System Purchases 1,020 Shares of Freshworks Inc. (NASDAQ:FRSH)

Arizona State Retirement System increased its holdings in Freshworks Inc. (NASDAQ:FRSHFree Report) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 40,667 shares of the company’s stock after buying an additional 1,020 shares during the quarter. Arizona State Retirement System’s holdings in Freshworks were worth $810,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Freshworks by 37.9% during the third quarter. Vanguard Group Inc. now owns 12,599,434 shares of the company’s stock valued at $163,415,000 after buying an additional 3,460,129 shares during the period. BlackRock Inc. boosted its position in shares of Freshworks by 210.2% during the second quarter. BlackRock Inc. now owns 11,984,191 shares of the company’s stock valued at $210,682,000 after buying an additional 8,120,351 shares during the period. Alliancebernstein L.P. boosted its position in shares of Freshworks by 35.0% during the second quarter. Alliancebernstein L.P. now owns 4,794,336 shares of the company’s stock valued at $84,284,000 after buying an additional 1,243,205 shares during the period. State Street Corp boosted its position in shares of Freshworks by 239.7% during the second quarter. State Street Corp now owns 3,294,195 shares of the company’s stock valued at $57,912,000 after buying an additional 2,324,432 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Freshworks by 97.2% during the second quarter. Geode Capital Management LLC now owns 3,292,258 shares of the company’s stock valued at $57,878,000 after buying an additional 1,622,531 shares during the period. 57.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FRSH shares. Needham & Company LLC lifted their price target on shares of Freshworks from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price objective on shares of Freshworks in a research note on Wednesday. UBS Group reduced their price objective on shares of Freshworks from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Jefferies Financial Group raised shares of Freshworks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $30.00 in a research note on Friday, January 5th. Finally, Barclays reduced their price objective on shares of Freshworks from $25.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 1st. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Freshworks presently has a consensus rating of “Moderate Buy” and an average target price of $24.88.

Read Our Latest Analysis on FRSH

Freshworks Trading Down 3.1 %

Shares of FRSH opened at $21.15 on Thursday. The company has a market cap of $6.25 billion, a PE ratio of -37.11 and a beta of 0.99. The stock has a 50-day moving average price of $22.43 and a 200-day moving average price of $20.63. Freshworks Inc. has a 12-month low of $12.22 and a 12-month high of $24.98.

Insiders Place Their Bets

In other news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $20.63, for a total transaction of $173,972.79. Following the transaction, the director now directly owns 15,482 shares of the company’s stock, valued at $319,393.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Srinivasagopalan Ramamurthy sold 175,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $24.02, for a total value of $4,203,500.00. Following the completion of the transaction, the insider now owns 585,188 shares in the company, valued at $14,056,215.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $20.63, for a total value of $173,972.79. Following the completion of the transaction, the director now owns 15,482 shares of the company’s stock, valued at approximately $319,393.66. The disclosure for this sale can be found here. Insiders have sold 213,286 shares of company stock valued at $5,046,906 in the last ninety days. Company insiders own 26.66% of the company’s stock.

About Freshworks

(Free Report)

Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. It offers Freshdesk Support Desk that enables businesses to delight their customers at every service engagement touchpoint across traditional channels, including email, and modern channels, such as messaging and social media; Freshdesk Contact Center that offers agents with cloud-based telephony system to connect with customers that supports complex call-flows, number and call management, IVR, and routing needs, as well as live dashboard and reports; and Freshdesk Customer Success, which helps customer success managers at business to business (B2B) subscription companies.

Read More

Want to see what other hedge funds are holding FRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freshworks Inc. (NASDAQ:FRSHFree Report).

Institutional Ownership by Quarter for Freshworks (NASDAQ:FRSH)

Receive News & Ratings for Freshworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshworks and related companies with MarketBeat.com's FREE daily email newsletter.