Thrivent Financial for Lutherans Takes Position in Freshworks Inc. (NASDAQ:FRSH)

Thrivent Financial for Lutherans bought a new stake in shares of Freshworks Inc. (NASDAQ:FRSH) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 57,911 shares of the company’s stock, valued at approximately $937,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position 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 acquiring an additional 954 shares in the last quarter. Versor Investments LP boosted its position in shares of Freshworks by 3.0% during the fourth quarter. Versor Investments LP now owns 34,400 shares of the company’s stock valued at $556,000 after purchasing an additional 1,000 shares in the last quarter. Arizona State Retirement System grew its stake in Freshworks by 2.2% in the fourth quarter. Arizona State Retirement System now owns 51,704 shares of the company’s stock worth $836,000 after purchasing an additional 1,103 shares during the period. Avion Wealth bought a new position in Freshworks in the fourth quarter worth $26,000. Finally, Nisa Investment Advisors LLC lifted its position in Freshworks by 102.4% during the fourth 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 during the period. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Trading Up 1.6 %

Freshworks stock opened at $14.33 on Wednesday. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The stock has a fifty day simple moving average of $16.79 and a two-hundred day simple moving average of $15.15. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of -44.78 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last released 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%. On average, equities research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on FRSH shares. StockNews.com raised shares of Freshworks from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Oppenheimer upped their price objective on shares of Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley lifted their target price on shares of Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Jefferies Financial Group cut their price target on Freshworks from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Cantor Fitzgerald lifted their price objective on Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Freshworks has a consensus rating of “Moderate Buy” and a consensus price target of $21.14.

Insider Transactions at Freshworks

In other news, insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.74, for a total transaction of $47,859.66. Following the completion of the sale, the insider now owns 615,893 shares of the company’s stock, valued at $10,310,048.82. This represents a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $15.49, for a total transaction of $72,570.65. Following the completion of the transaction, the director now owns 37,286 shares in the company, valued at $577,560.14. This trade represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,980 shares of company stock worth $1,084,011 over the last three months. 19.15% of the stock is currently owned by company insiders.

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.