Freshworks Inc. (NASDAQ:FRSH) Position Decreased by Quest Partners LLC

Quest Partners LLC reduced its holdings in Freshworks Inc. (NASDAQ:FRSH) by 10.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,477 shares of the company’s stock after selling 2,479 shares during the quarter. Quest Partners LLC’s holdings in Freshworks were worth $247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in shares of Freshworks by 1,987.3% in the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after buying an additional 2,822 shares in the last quarter. Covestor Ltd raised its position in shares of Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after purchasing an additional 1,704 shares during the period. CWM LLC lifted its holdings in shares of Freshworks by 554.5% during the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after purchasing an additional 2,878 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Freshworks by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after purchasing an additional 757 shares during the period. Finally, Quarry LP increased its stake in Freshworks by 157.6% in the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after purchasing an additional 2,645 shares in the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.54, for a total transaction of $97,316.82. Following the transaction, the director now directly owns 22,530 shares of the company’s stock, valued at $259,996.20. This represents a 27.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the transaction, the director now owns 35,853 shares in the company, valued at approximately $400,478.01. This trade represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,463 shares of company stock worth $406,714 in the last 90 days. 19.15% of the stock is owned by insiders.

Freshworks Stock Performance

NASDAQ:FRSH opened at $16.32 on Wednesday. The company has a market capitalization of $4.94 billion, a P/E ratio of -47.91 and a beta of 0.72. The stock’s 50 day moving average price is $12.67 and its 200 day moving average price is $12.53. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $24.98.

Wall Street Analyst Weigh In

FRSH has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a research note on Thursday, November 7th. Barclays cut their target price on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Canaccord Genuity Group raised their target price on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Scotiabank dropped their price target on Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

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.