Segall Bryant & Hamill LLC Reduces Position in Freshworks Inc. (NASDAQ:FRSH)

Segall Bryant & Hamill LLC trimmed its holdings in Freshworks Inc. (NASDAQ:FRSH) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 393,549 shares of the company’s stock after selling 5,295 shares during the period. Segall Bryant & Hamill LLC’s holdings in Freshworks were worth $6,364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FRSH. Avion Wealth bought a new stake in shares of Freshworks in the fourth quarter worth $26,000. Point72 Hong Kong Ltd acquired a new position in Freshworks in the third quarter worth about $57,000. Blue Trust Inc. increased its holdings in Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after buying an additional 954 shares during the last quarter. Nisa Investment Advisors LLC raised its stake 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 in the last quarter. Finally, KBC Group NV lifted its holdings in Freshworks by 59.1% during the 4th quarter. KBC Group NV now owns 7,604 shares of the company’s stock worth $123,000 after buying an additional 2,824 shares during the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FRSH has been the subject of a number of research analyst reports. Robert W. Baird set a $18.00 price target on Freshworks in a report on Wednesday, February 12th. Canaccord Genuity Group boosted their target price on shares of Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. UBS Group set a $22.00 price target on shares of Freshworks in a research report on Thursday, February 6th. Wells Fargo & Company downgraded shares of Freshworks from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $16.00 to $13.00 in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald raised their target price on shares of Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Freshworks currently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

Freshworks Stock Performance

NASDAQ:FRSH opened at $15.93 on Thursday. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of -49.78 and a beta of 0.92. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The business has a fifty day moving average of $17.02 and a 200-day moving average of $15.03.

Freshworks (NASDAQ:FRSH) last released its earnings results 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 net margin of 13.24% and a negative return on equity of 6.63%. On average, equities research analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $16.74, for a total value of $47,859.66. Following the completion of the sale, the insider now owns 615,893 shares in the company, valued at $10,310,048.82. This represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $15.49, for a total value of $72,570.65. Following the transaction, the director now directly owns 37,286 shares of the company’s stock, valued at $577,560.14. This represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,200 shares of company stock worth $1,073,021 over the last ninety days. Company insiders own 19.15% of the company’s stock.

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.