Diversified Trust Co Sells 31,950 Shares of Freshworks Inc. (NASDAQ:FRSH)

Diversified Trust Co decreased its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 56.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,076 shares of the company’s stock after selling 31,950 shares during the period. Diversified Trust Co’s holdings in Freshworks were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in Freshworks by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after purchasing an additional 757 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Freshworks by 0.5% during the first quarter. California State Teachers Retirement System now owns 161,706 shares of the company’s stock valued at $2,945,000 after buying an additional 831 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Freshworks by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 13,755 shares of the company’s stock worth $250,000 after buying an additional 1,160 shares during the period. Amalgamated Bank lifted its stake in shares of Freshworks by 29.1% during the 2nd quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock worth $90,000 after acquiring an additional 1,588 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Freshworks by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 29,127 shares of the company’s stock valued at $530,000 after acquiring an additional 2,293 shares during the period. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler reduced their target price on Freshworks from $17.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Barclays reduced their target price on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Freshworks in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald dropped their price objective on Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Freshworks has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

Freshworks Trading Up 2.8 %

FRSH opened at $11.47 on Friday. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $24.98. The stock has a fifty day moving average price of $11.39 and a 200-day moving average price of $13.42. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of -28.68 and a beta of 0.73.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The business had revenue of $174.13 million during the quarter, compared to analyst estimates of $169.05 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, equities research analysts forecast that Freshworks Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling at Freshworks

In other news, Director Zachary Nelson sold 8,442 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $11.60, for a total transaction of $97,927.20. Following the completion of the sale, the director now owns 22,530 shares in the company, valued at approximately $261,348. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Roxanne S. Austin sold 6,303 shares of Freshworks stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $11.22, for a total value of $70,719.66. Following the completion of the sale, the director now directly owns 223,106 shares in the company, valued at $2,503,249.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $11.60, for a total transaction of $97,927.20. Following the transaction, the director now owns 22,530 shares in the company, valued at $261,348. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,245 shares of company stock worth $533,811 over the last three months. Corporate insiders own 19.15% of the company’s stock.

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.