Freshworks Inc. (NASDAQ:FRSH) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 10.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,428,755 shares of the company’s stock after acquiring an additional 239,671 shares during the period. Dimensional Fund Advisors LP’s holdings in Freshworks were worth $30,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Advisors Asset Management Inc. boosted its stake in Freshworks by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after buying an additional 757 shares during the last quarter. CWM LLC boosted its position in shares of Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after acquiring an additional 2,878 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Freshworks in the first quarter valued at approximately $82,000. International Assets Investment Management LLC acquired a new position in Freshworks during the second quarter worth approximately $58,000. Finally, SG Americas Securities LLC purchased a new position in Freshworks during the first quarter worth approximately $179,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Insider Activity

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $12.28, for a total transaction of $57,531.80. Following the sale, the director now directly owns 35,853 shares of the company’s stock, valued at $440,274.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Zachary Nelson sold 8,442 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $11.60, for a total transaction of $97,927.20. Following the completion of the transaction, the director now owns 22,530 shares of the company’s stock, valued at $261,348. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $12.28, for a total transaction of $57,531.80. Following the completion of the sale, the director now directly owns 35,853 shares in the company, valued at approximately $440,274.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,798 shares of company stock worth $446,272. 19.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reduced their target price on Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Freshworks in a report on Wednesday, July 31st. Piper Sandler cut their price target on shares of Freshworks from $22.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Scotiabank decreased their price objective on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 31st. Finally, Barclays reduced their target price on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Freshworks currently has an average rating of “Moderate Buy” and a consensus price target of $18.69.

Freshworks Price Performance

NASDAQ FRSH opened at $11.20 on Wednesday. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of -28.00 and a beta of 0.73. Freshworks Inc. has a 12 month low of $10.89 and a 12 month high of $24.98. The company’s fifty day moving average price is $11.69 and its two-hundred day moving average price is $13.80.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The business had revenue of $174.13 million during the quarter, compared to the consensus estimate of $169.05 million. During the same period last year, the firm earned ($0.12) earnings per share. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts anticipate that Freshworks Inc. will post -0.38 EPS 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.