Charles Schwab Investment Management Inc. Raises Stock Holdings in Freshworks Inc. (NASDAQ:FRSH)

Charles Schwab Investment Management Inc. grew its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 1.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,556,772 shares of the company’s stock after buying an additional 24,558 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Freshworks were worth $17,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in shares of Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after purchasing an additional 2,822 shares during the last quarter. Covestor Ltd increased its holdings in shares of Freshworks by 89.9% in 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 last quarter. CWM LLC lifted 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 buying an additional 2,878 shares in the last quarter. Quarry LP boosted its stake in Freshworks by 157.6% during the second quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after buying an additional 2,645 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Freshworks during the 2nd quarter valued at approximately $58,000. Institutional investors own 75.58% of the company’s stock.

Freshworks Price Performance

Shares of NASDAQ FRSH opened at $16.61 on Friday. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $24.98. The firm has a 50-day simple moving average of $13.55 and a two-hundred day simple moving average of $12.70. The company has a market cap of $5.03 billion, a P/E ratio of -48.85 and a beta of 0.90.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JMP Securities upped their price objective on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Piper Sandler lifted their price objective on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Canaccord Genuity Group boosted their target price on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price target on shares of Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.69.

Insider Buying and Selling

In related news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $12.19, for a total value of $102,798.27. Following the transaction, the director now owns 23,497 shares of the company’s stock, valued at $286,428.43. This represents a 26.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $11.06, for a total value of $51,871.40. Following the sale, the director now directly owns 36,689 shares of the company’s stock, valued at approximately $405,780.34. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,250 shares of company stock valued at $300,201 in the last 90 days. Company 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.