Landscape Capital Management L.L.C. purchased a new stake in shares of Freshworks Inc. (NASDAQ:FRSH – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,633 shares of the company’s stock, valued at approximately $225,000.
A number of other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in Freshworks by 638.2% in the fourth quarter. Russell Investments Group Ltd. now owns 124,428 shares of the company’s stock valued at $1,830,000 after acquiring an additional 107,573 shares in the last quarter. Ieq Capital LLC boosted its position in shares of Freshworks by 51.0% in the 1st quarter. Ieq Capital LLC now owns 313,029 shares of the company’s stock worth $4,808,000 after purchasing an additional 105,722 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Freshworks by 34.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,297 shares of the company’s stock worth $19,054,000 after buying an additional 330,608 shares during the last quarter. Ward Ferry Management BVI Ltd increased its position in Freshworks by 11.0% during the 4th quarter. Ward Ferry Management BVI Ltd now owns 12,871,086 shares of the company’s stock valued at $189,334,000 after buying an additional 1,275,200 shares in the last quarter. Finally, CenterBook Partners LP increased its position in Freshworks by 67.9% during the 4th quarter. CenterBook Partners LP now owns 360,663 shares of the company’s stock valued at $5,305,000 after buying an additional 145,797 shares in the last quarter. 46.03% of the stock is currently owned by institutional investors.
Freshworks Stock Performance
Freshworks stock opened at $21.45 on Monday. Freshworks Inc. has a 12 month low of $11.92 and a 12 month high of $23.09. The stock’s 50 day simple moving average is $18.33 and its two-hundred day simple moving average is $16.04.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on FRSH. JPMorgan Chase & Co. boosted their price target on Freshworks from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Morgan Stanley upped their price target on shares of Freshworks from $17.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 2nd. Canaccord Genuity Group raised shares of Freshworks from a “hold” rating to a “buy” rating and raised their price target for the stock from $15.00 to $25.00 in a report on Wednesday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of Freshworks in a report on Wednesday, August 2nd. Finally, UBS Group began coverage on Freshworks in a research report on Thursday, July 20th. They issued a “buy” rating and a $21.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.62.
View Our Latest Stock Analysis on Freshworks
Insider Activity
In related news, Director Jennifer H. Taylor sold 7,028 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $22.34, for a total value of $157,005.52. Following the completion of the transaction, the director now owns 25,836 shares of the company’s stock, valued at approximately $577,176.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jennifer H. Taylor sold 7,028 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $22.34, for a total value of $157,005.52. Following the transaction, the director now owns 25,836 shares in the company, valued at $577,176.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 5,964 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $21.14, for a total value of $126,078.96. Following the sale, the director now owns 25,836 shares of the company’s stock, valued at $546,173.04. The disclosure for this sale can be found here. Insiders have sold 450,206 shares of company stock worth $9,082,335 in the last ninety days. Company insiders own 26.66% of the company’s stock.
About Freshworks
Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. It offers Freshdesk Support Desk that enables businesses to delight their customers at every service engagement touchpoint across traditional channels, including email, and modern channels, such as messaging and social media; Freshdesk Contact Center that offers agents with cloud-based telephony system to connect with customers that supports complex call-flows, number and call management, IVR, and routing needs, as well as live dashboard and reports; and Freshdesk Customer Success, which helps customer success managers at business to business (B2B) subscription companies.
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