Freshworks Inc. (NASDAQ:FRSH) is Stanley Laman Group Ltd.’s 7th Largest Position

Stanley Laman Group Ltd. decreased its stake in Freshworks Inc. (NASDAQ:FRSH) by 8.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 558,914 shares of the company’s stock after selling 52,595 shares during the period. Freshworks makes up 1.3% of Stanley Laman Group Ltd.’s portfolio, making the stock its 7th biggest position. Stanley Laman Group Ltd.’s holdings in Freshworks were worth $9,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Avion Wealth acquired a new stake in shares of Freshworks during the 4th quarter worth approximately $26,000. Blue Trust Inc. boosted its stake in 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 purchasing an additional 2,822 shares in the last quarter. Covestor Ltd boosted its stake in Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after acquiring an additional 2,223 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Freshworks during the 3rd quarter worth $57,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Stock Down 0.3 %

NASDAQ FRSH opened at $17.80 on Thursday. The firm’s fifty day moving average price is $16.97 and its two-hundred day moving average price is $14.08. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $21.61.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 14.80% and a negative return on equity of 8.57%. As a group, sell-side analysts expect that Freshworks Inc. will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. JMP Securities raised their target price on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Piper Sandler raised their target price on Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday. Scotiabank lifted their price objective on Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Canaccord Genuity Group lifted their price objective on Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird decreased their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.07.

Insider Activity

In other news, Chairman Rathnagirish Mathrubootham sold 835,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $16.08, for a total transaction of $13,426,800.00. Following the completion of the transaction, the chairman now directly owns 551,137 shares of the company’s stock, valued at $8,862,282.96. This represents a 60.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry L. Padgett sold 2,345 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $17.30, for a total transaction of $40,568.50. Following the sale, the director now owns 26,957 shares in the company, valued at $466,356.10. The trade was a 8.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,727,211 shares of company stock worth $27,224,746. 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.