Cornercap Investment Counsel Inc. Boosts Stock Position in Freshworks Inc. (NASDAQ:FRSH)

Cornercap Investment Counsel Inc. increased its position in Freshworks Inc. (NASDAQ:FRSH) by 23.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,916 shares of the company’s stock after acquiring an additional 5,104 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Freshworks were worth $435,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avion Wealth purchased a new stake in shares of Freshworks in the fourth quarter worth $26,000. Blue Trust Inc. boosted its holdings in Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after buying an additional 954 shares during the period. Nisa Investment Advisors LLC increased its stake in Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after buying an additional 2,223 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Freshworks during the third quarter valued at about $57,000. Finally, KBC Group NV lifted its position in shares of Freshworks by 59.1% in the fourth quarter. KBC Group NV now owns 7,604 shares of the company’s stock valued at $123,000 after acquiring an additional 2,824 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.

Insider Buying and Selling

In related news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total transaction of $133,663.05. Following the completion of the sale, the director now owns 24,187 shares in the company, valued at $383,363.95. This trade represents a 25.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $15.49, for a total transaction of $72,570.65. Following the completion of the transaction, the director now owns 37,286 shares in the company, valued at $577,560.14. This represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,200 shares of company stock valued at $1,073,021. Insiders own 19.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Robert W. Baird set a $18.00 target price on Freshworks in a research report on Wednesday, February 12th. Wells Fargo & Company cut shares of Freshworks from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $16.00 to $13.00 in a research report on Tuesday, January 21st. Scotiabank upped their target price on shares of Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Piper Sandler lifted their price target on shares of Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, JMP Securities set a $27.00 price objective on Freshworks in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Freshworks presently has a consensus rating of “Moderate Buy” and an average target price of $21.14.

Freshworks Stock Down 4.2 %

Shares of FRSH opened at $14.53 on Friday. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The company has a market cap of $4.38 billion, a PE ratio of -45.41 and a beta of 0.92. The business has a fifty day moving average of $16.92 and a 200 day moving average of $15.08.

Freshworks (NASDAQ:FRSH) last issued its quarterly 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%. As a group, research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal 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.