Y Intercept Hong Kong Ltd Lowers Holdings in Freshworks Inc. (NASDAQ:FRSH)

Y Intercept Hong Kong Ltd decreased its holdings in Freshworks Inc. (NASDAQ:FRSH) by 72.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 36,101 shares of the company’s stock after selling 96,160 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Freshworks were worth $584,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Creative Planning acquired a new position in Freshworks during the 3rd quarter worth approximately $482,000. Blue Trust Inc. raised its position in shares of Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after acquiring an additional 2,822 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Freshworks by 121.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,056 shares of the company’s stock valued at $115,000 after acquiring an additional 5,510 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in shares of Freshworks during the 3rd quarter valued at approximately $372,000. Finally, Cary Street Partners Asset Management LLC bought a new position in Freshworks during the 3rd quarter worth $166,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jennifer H. Taylor sold 4,690 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $16.74, for a total value of $78,510.60. Following the transaction, the director now owns 36,689 shares of the company’s stock, valued at approximately $614,173.86. This represents a 11.33 % 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, insider Mika Yamamoto sold 5,718 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $16.95, for a total value of $96,920.10. Following the sale, the insider now directly owns 403,108 shares in the company, valued at $6,832,680.60. This represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,728,661 shares of company stock valued at $27,250,861 over the last 90 days. 19.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company cut Freshworks from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $16.00 to $13.00 in a research note on Tuesday, January 21st. Oppenheimer raised their target price on Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald upped their target price on Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Scotiabank upped their target price on Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Finally, Piper Sandler increased their price objective on Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.62.

Freshworks Trading Down 0.1 %

FRSH stock opened at $17.06 on Friday. The business’s 50-day moving average price is $17.19 and its two-hundred day moving average price is $14.52. The firm has a market cap of $5.17 billion, a PE ratio of -53.31 and a beta of 0.91. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $20.60.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. On average, analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current year.

Freshworks Company 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.