Versor Investments LP Has $556,000 Stock Holdings in Freshworks Inc. (NASDAQ:FRSH)

Versor Investments LP lifted its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 34,400 shares of the company’s stock after buying an additional 1,000 shares during the period. Versor Investments LP’s holdings in Freshworks were worth $556,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new stake in Freshworks during the fourth quarter worth about $2,043,000. Ieq Capital LLC raised its position in shares of Freshworks by 29.3% in the 4th quarter. Ieq Capital LLC now owns 1,462,541 shares of the company’s stock valued at $23,649,000 after buying an additional 331,298 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Freshworks by 365.6% during the 4th quarter. New York State Common Retirement Fund now owns 278,409 shares of the company’s stock worth $4,502,000 after acquiring an additional 218,617 shares during the period. Rhumbline Advisers boosted its position in shares of Freshworks by 2.6% during the 4th quarter. Rhumbline Advisers now owns 275,831 shares of the company’s stock worth $4,460,000 after acquiring an additional 7,089 shares in the last quarter. Finally, Legato Capital Management LLC bought a new position in Freshworks in the fourth quarter valued at approximately $515,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Freshworks Stock Performance

Shares of NASDAQ FRSH opened at $17.06 on Friday. The firm has a 50 day moving average price of $17.19 and a two-hundred day moving average price of $14.52. The stock has a market cap of $5.17 billion, a P/E ratio of -53.31 and a beta of 0.91. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $20.60.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share 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%. Analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Barry L. Padgett sold 2,345 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total value of $40,568.50. Following the sale, the director now directly owns 26,957 shares in the company, valued at $466,356.10. This represents a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Johanna Flower sold 1,450 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $18.01, for a total transaction of $26,114.50. Following the transaction, the director now owns 41,491 shares of the company’s stock, valued at approximately $747,252.91. The trade was a 3.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,728,661 shares of company stock valued at $27,250,861. Company insiders own 19.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FRSH shares. Wells Fargo & Company downgraded Freshworks from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Piper Sandler boosted their target price on Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Morgan Stanley raised their price target on shares of Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Oppenheimer upped their price objective on shares of Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.62.

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.