Charles Schwab Investment Management Inc. Purchases 53,185 Shares of Freshworks Inc. (NASDAQ:FRSH)

Charles Schwab Investment Management Inc. boosted its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 3.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,609,957 shares of the company’s stock after acquiring an additional 53,185 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Freshworks were worth $26,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FRSH. Avion Wealth bought a new stake in Freshworks during the 4th quarter worth approximately $26,000. Point72 Hong Kong Ltd purchased a new stake in Freshworks during the 3rd quarter valued at approximately $57,000. Blue Trust Inc. grew its holdings in Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after buying an additional 954 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after buying an additional 2,223 shares in the last quarter. Finally, KBC Group NV grew its holdings in Freshworks by 59.1% during the 4th quarter. KBC Group NV now owns 7,604 shares of the company’s stock valued at $123,000 after buying an additional 2,824 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mika Yamamoto sold 2,859 shares of Freshworks stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.84, for a total transaction of $45,286.56. Following the completion of the sale, the insider now directly owns 400,249 shares in the company, valued at approximately $6,339,944.16. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Rathnagirish Mathrubootham sold 830,000 shares of Freshworks stock in a transaction on Friday, December 20th. The stock was sold at an average price of $15.33, for a total value of $12,723,900.00. Following the sale, the chairman now owns 551,137 shares of the company’s stock, valued at approximately $8,448,930.21. This trade represents a 60.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,727,200 shares of company stock valued at $27,223,721 over the last three months. 19.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald increased their price objective on shares of Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Barclays increased their price objective on shares of Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Oppenheimer increased their price objective on shares of Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Scotiabank increased their price objective on shares of Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of Freshworks in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Freshworks currently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

Freshworks Stock Up 2.3 %

NASDAQ FRSH opened at $15.22 on Tuesday. The company has a fifty day moving average of $17.07 and a two-hundred day moving average of $14.85. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of -47.56 and a beta of 0.92. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. Equities research analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

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.