UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.56 Million Holdings in Freshworks Inc. (NASDAQ:FRSH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 10.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 310,024 shares of the company’s stock after selling 36,614 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Freshworks worth $3,559,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP increased its position in Freshworks by 80.1% during the 3rd quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock valued at $4,895,000 after purchasing an additional 189,616 shares during the period. Sei Investments Co. grew its position in shares of Freshworks by 191.9% during the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock worth $1,216,000 after buying an additional 63,006 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Freshworks during the 3rd quarter worth approximately $867,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Freshworks by 806.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock worth $2,699,000 after buying an additional 209,194 shares during the period. Finally, M&G PLC acquired a new stake in shares of Freshworks during the 3rd quarter worth approximately $9,094,000. Institutional investors and hedge funds own 75.58% of the company’s stock.

Insider Activity

In other news, Director Jennifer H. Taylor sold 4,690 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $16.74, for a total transaction of $78,510.60. Following the completion of the sale, the director now directly owns 36,689 shares of the company’s stock, valued at $614,173.86. This trade represents a 11.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total value of $93,199.68. Following the sale, the director now directly owns 23,497 shares of the company’s stock, valued at approximately $259,406.88. This represents a 26.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,255 shares of company stock valued at $326,380 in the last ninety days. 19.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FRSH. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Freshworks in a research report on Thursday, November 7th. Piper Sandler raised their price objective on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. JMP Securities raised their price objective on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group increased their target price on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.69.

Freshworks Trading Down 0.4 %

Shares of NASDAQ:FRSH opened at $16.89 on Friday. The stock’s fifty day simple moving average is $14.00 and its two-hundred day simple moving average is $12.79. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $24.98. The stock has a market cap of $5.12 billion, a PE ratio of -49.68 and a beta of 0.90.

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.