Intech Investment Management LLC Buys 33,871 Shares of Freshworks Inc. (NASDAQ:FRSH)

Intech Investment Management LLC grew its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 44.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,409 shares of the company’s stock after acquiring an additional 33,871 shares during the quarter. Intech Investment Management LLC’s holdings in Freshworks were worth $1,769,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Avion Wealth bought a new stake in Freshworks during the 4th quarter valued at about $26,000. Blue Trust Inc. grew its holdings in shares of Freshworks by 32.2% during 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 increased its position in shares of 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 acquiring an additional 2,223 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Freshworks during the third quarter valued at approximately $57,000. Finally, KBC Group NV raised its holdings in Freshworks by 59.1% in the 4th quarter. KBC Group NV now owns 7,604 shares of the company’s stock worth $123,000 after acquiring an additional 2,824 shares during the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Stock Performance

Shares of Freshworks stock opened at $15.29 on Friday. The stock’s fifty day moving average is $17.02 and its 200 day moving average is $14.88. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The stock has a market cap of $4.61 billion, a P/E ratio of -47.78 and a beta of 0.92.

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 EPS for the current year.

Insider Buying and Selling at Freshworks

In related news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total transaction of $133,663.05. Following the transaction, the director now owns 24,187 shares in the company, valued at approximately $383,363.95. The trade was a 25.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the company’s stock in a transaction on 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 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 have sold 62,200 shares of company stock valued at $1,073,021 over the last 90 days. 19.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FRSH has been the subject of a number of research analyst reports. Scotiabank lifted their target price on Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. UBS Group set a $22.00 price objective on Freshworks in a report on Thursday, February 6th. Barclays upped their target price on shares of Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Morgan Stanley lifted their price target on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Piper Sandler increased their price objective on shares of Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

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.