DekaBank Deutsche Girozentrale Sells 65,100 Shares of Freshworks Inc. (NASDAQ:FRSH)

DekaBank Deutsche Girozentrale decreased its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 85.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,799 shares of the company’s stock after selling 65,100 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Freshworks were worth $258,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in Freshworks by 373.8% during the third quarter. Advisors Asset Management Inc. now owns 1,663 shares of the company’s stock valued at $33,000 after buying an additional 1,312 shares during the period. Quarry LP bought a new stake in Freshworks during the second quarter valued at $35,000. Quantbot Technologies LP bought a new stake in Freshworks during the first quarter worth about $59,000. UBS Group AG lifted its stake in Freshworks by 117.5% during the third quarter. UBS Group AG now owns 3,574 shares of the company’s stock worth $46,000 after purchasing an additional 1,931 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Freshworks during the third quarter worth about $81,000. Institutional investors own 75.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FRSH. Jefferies Financial Group raised Freshworks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $30.00 in a research note on Friday, January 5th. Wolfe Research raised Freshworks from a “peer perform” rating to an “outperform” rating and set a $27.00 price target for the company in a research note on Tuesday, February 20th. Piper Sandler lifted their price target on Freshworks from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Needham & Company LLC lifted their price target on Freshworks from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 28th. Finally, JMP Securities lifted their price target on Freshworks from $25.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Insider Transactions at Freshworks

In other news, Director Barry L. Padgett sold 4,690 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $20.22, for a total value of $94,831.80. Following the sale, the director now directly owns 17,387 shares of the company’s stock, valued at approximately $351,565.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Barry L. Padgett sold 4,690 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $20.22, for a total value of $94,831.80. Following the sale, the director now directly owns 17,387 shares of the company’s stock, valued at approximately $351,565.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jennifer H. Taylor sold 7,035 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $18.08, for a total value of $127,192.80. Following the completion of the sale, the director now directly owns 19,991 shares in the company, valued at $361,437.28. The disclosure for this sale can be found here. Insiders have sold a total of 460,792 shares of company stock valued at $9,408,403 in the last ninety days. 26.66% of the stock is currently owned by corporate insiders.

Freshworks Stock Performance

FRSH stock opened at $17.30 on Wednesday. Freshworks Inc. has a fifty-two week low of $12.22 and a fifty-two week high of $24.98. The business’s 50 day moving average price is $19.16 and its two-hundred day moving average price is $20.10. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of -36.81 and a beta of 0.90.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. Freshworks had a negative return on equity of 12.55% and a negative net margin of 23.04%. The firm had revenue of $160.11 million for the quarter, compared to the consensus estimate of $158.11 million. Sell-side analysts forecast that Freshworks Inc. will post -0.37 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.