Tempus Wealth Planning LLC Takes Position in Freshworks Inc. (NASDAQ:FRSH)

Tempus Wealth Planning LLC purchased a new stake in Freshworks Inc. (NASDAQ:FRSH) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,284 shares of the company’s stock, valued at approximately $130,000.

A number of other hedge funds also recently made changes to their positions in FRSH. Capital International Investors bought a new stake in Freshworks during the 1st quarter worth approximately $59,311,000. Clearbridge Investments LLC grew its holdings in Freshworks by 107.4% during the 1st quarter. Clearbridge Investments LLC now owns 4,050,733 shares of the company’s stock worth $73,764,000 after acquiring an additional 2,097,280 shares during the last quarter. Vanguard Group Inc. grew its holdings in Freshworks by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock worth $385,525,000 after acquiring an additional 1,354,530 shares during the last quarter. Stanley Laman Group Ltd. bought a new stake in Freshworks during the 2nd quarter worth approximately $9,133,000. Finally, Lake Street Advisors Group LLC bought a new stake in Freshworks during the 2nd quarter worth approximately $8,717,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FRSH has been the topic of a number of research reports. Cantor Fitzgerald reduced their target price on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Canaccord Genuity Group reduced their target price on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Piper Sandler reduced their price objective on shares of Freshworks from $17.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Jefferies Financial Group reduced their price objective on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Freshworks presently has a consensus rating of “Moderate Buy” and an average target price of $17.86.

Freshworks Stock Down 2.1 %

Freshworks stock opened at $11.16 on Thursday. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $24.98. The firm’s fifty day moving average is $11.41 and its 200 day moving average is $13.01. The company has a market capitalization of $3.33 billion, a PE ratio of -27.90 and a beta of 0.73.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, July 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The company had revenue of $174.13 million for the quarter, compared to the consensus estimate of $169.05 million. During the same quarter in the previous year, the company earned ($0.12) EPS. Freshworks’s quarterly revenue was up 20.0% compared to the same quarter last year. Sell-side analysts expect that Freshworks Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $11.23, for a total transaction of $52,668.70. Following the transaction, the director now owns 35,853 shares in the company, valued at approximately $402,629.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $11.23, for a total transaction of $52,668.70. Following the transaction, the director now owns 35,853 shares in the company, valued at approximately $402,629.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Roxanne S. Austin sold 6,303 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $11.22, for a total transaction of $70,719.66. Following the transaction, the director now owns 223,106 shares in the company, valued at approximately $2,503,249.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,245 shares of company stock worth $533,811. Insiders own 19.15% of the company’s stock.

About Freshworks

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.