Olympiad Research LP Purchases 20,468 Shares of Freshworks Inc. (NASDAQ:FRSH)

Olympiad Research LP increased its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 95.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,855 shares of the company’s stock after buying an additional 20,468 shares during the period. Olympiad Research LP’s holdings in Freshworks were worth $480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its position 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 period. California State Teachers Retirement System increased its holdings in 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 period. Allspring Global Investments Holdings LLC lifted its holdings in Freshworks by 9.2% during 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 position in shares of Freshworks by 29.1% during the second quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock valued at $90,000 after buying an additional 1,588 shares during the last quarter. Finally, ProShare Advisors LLC increased its position 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 buying an additional 2,293 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors.

Freshworks Trading Up 19.5 %

Shares of Freshworks stock opened at $15.64 on Thursday. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $24.98. The firm’s 50-day moving average price is $11.45 and its 200 day moving average price is $12.60. The firm has a market capitalization of $4.72 billion, a PE ratio of -37.40 and a beta of 0.72.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The firm had revenue of $186.58 million for the quarter, compared to analyst estimates of $181.50 million. On average, sell-side analysts predict that Freshworks Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Scotiabank dropped their price target on Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Canaccord Genuity Group dropped their price objective on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group decreased their target price on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Barclays cut their price target on Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Freshworks has a consensus rating of “Moderate Buy” and an average target price of $17.92.

Insider Transactions at Freshworks

In related news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $12.19, for a total transaction of $102,798.27. Following the transaction, the director now directly owns 23,497 shares in the company, valued at approximately $286,428.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction on Monday, November 4th. The stock was sold at an average price of $12.19, for a total transaction of $102,798.27. Following the transaction, the director now owns 23,497 shares in the company, valued at $286,428.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 6,303 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $11.22, for a total transaction of $70,719.66. Following the completion of the sale, the director now directly owns 223,106 shares of the company’s stock, valued at $2,503,249.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,456 shares of company stock valued at $530,102 over the last 90 days. 19.15% of the stock is currently owned by corporate 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.