Nisa Investment Advisors LLC Acquires 2,223 Shares of Freshworks Inc. (NASDAQ:FRSH)

Nisa Investment Advisors LLC grew its holdings in Freshworks Inc. (NASDAQ:FRSH) by 102.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,393 shares of the company’s stock after buying an additional 2,223 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Freshworks were worth $71,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FRSH. Covestor Ltd raised its stake in Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after buying an additional 1,704 shares in the last quarter. Quarry LP grew its holdings in shares of Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after acquiring an additional 2,645 shares during the period. Blue Trust Inc. raised its position in shares of Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after acquiring an additional 2,822 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Freshworks by 8.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,229 shares of the company’s stock valued at $462,000 after purchasing an additional 3,182 shares during the period. Finally, Holocene Advisors LP boosted its position in shares of Freshworks by 1.1% during the third quarter. Holocene Advisors LP now owns 295,923 shares of the company’s stock valued at $3,397,000 after purchasing an additional 3,226 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company downgraded Freshworks from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $16.00 to $13.00 in a report on Tuesday, January 21st. JMP Securities lifted their price target on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Morgan Stanley upped their price objective on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Robert W. Baird dropped their price target on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group raised their price objective on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.07.

Freshworks Price Performance

Shares of NASDAQ:FRSH opened at $18.60 on Friday. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $23.00. The company has a market cap of $5.63 billion, a P/E ratio of -54.70 and a beta of 0.88. The stock’s fifty day moving average price is $16.59 and its 200-day moving average price is $13.76.

Insiders Place Their Bets

In other Freshworks news, insider Mika Yamamoto sold 5,718 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $16.95, for a total value of $96,920.10. Following the transaction, the insider now directly owns 403,108 shares in the company, valued at approximately $6,832,680.60. This trade represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $12.19, for a total transaction of $102,798.27. Following the sale, the director now directly owns 23,497 shares of the company’s stock, valued at approximately $286,428.43. The trade was a 26.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,723,563 shares of company stock valued at $27,106,218. 19.15% of the stock is owned by insiders.

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.