Diversified Trust Co Decreases Holdings in Freshworks Inc. (NASDAQ:FRSH)

Diversified Trust Co trimmed its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,576 shares of the company’s stock after selling 2,944 shares during the period. Diversified Trust Co’s holdings in Freshworks were worth $848,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new position in shares of Freshworks during the 3rd quarter valued at about $81,000. Quest Partners LLC purchased a new position in Freshworks in the 4th quarter worth approximately $166,000. Steph & Co. purchased a new position in Freshworks in the 1st quarter worth approximately $201,000. Northside Capital Management LLC purchased a new position in Freshworks in the 4th quarter worth approximately $226,000. Finally, Xponance Inc. purchased a new position in Freshworks in the 4th quarter worth approximately $231,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Piper Sandler decreased their price target on Freshworks from $28.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. JMP Securities decreased their price target on Freshworks from $29.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 2nd. Oppenheimer cut Freshworks from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 2nd. Canaccord Genuity Group reduced their target price on Freshworks from $27.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Finally, Barclays reduced their target price on Freshworks from $20.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Freshworks Trading Up 1.8 %

Freshworks stock opened at $13.04 on Wednesday. The business’s fifty day simple moving average is $13.76 and its two-hundred day simple moving average is $18.18. Freshworks Inc. has a 12 month low of $11.90 and a 12 month high of $24.98. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -32.60 and a beta of 0.74.

Freshworks (NASDAQ:FRSH) last released its earnings results on Wednesday, May 1st. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.02. Freshworks had a negative return on equity of 10.66% and a negative net margin of 18.93%. The business had revenue of $165.14 million for the quarter, compared to the consensus estimate of $163.53 million. On average, equities research analysts predict that Freshworks Inc. will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other news, Director Barry L. Padgett sold 5,546 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $12.77, for a total value of $70,822.42. Following the completion of the transaction, the director now owns 26,957 shares in the company, valued at $344,240.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Barry L. Padgett sold 5,546 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $12.77, for a total value of $70,822.42. Following the completion of the transaction, the director now owns 26,957 shares in the company, valued at $344,240.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer H. Taylor sold 7,035 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $12.73, for a total value of $89,555.55. Following the completion of the transaction, the director now owns 19,991 shares of the company’s stock, valued at approximately $254,485.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,646 shares of company stock valued at $513,291. 19.15% of the stock is currently owned by corporate insiders.

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.