Freshworks Inc. $FRSH is Stanley Laman Group Ltd.’s 7th Largest Position

Stanley Laman Group Ltd. cut its holdings in Freshworks Inc. (NASDAQ:FRSH) by 9.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 496,264 shares of the company’s stock after selling 52,922 shares during the period. Freshworks accounts for 1.1% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 7th biggest position. Stanley Laman Group Ltd. owned approximately 0.17% of Freshworks worth $7,399,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Allianz Asset Management GmbH boosted its holdings in Freshworks by 54.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 388,393 shares of the company’s stock worth $5,791,000 after buying an additional 137,122 shares during the period. Bayforest Capital Ltd boosted its holdings in Freshworks by 6.9% in the 2nd quarter. Bayforest Capital Ltd now owns 43,202 shares of the company’s stock worth $644,000 after buying an additional 2,805 shares during the period. Verdence Capital Advisors LLC boosted its holdings in Freshworks by 7.4% in the 2nd quarter. Verdence Capital Advisors LLC now owns 15,547 shares of the company’s stock worth $232,000 after buying an additional 1,070 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Freshworks by 92.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 37,578 shares of the company’s stock worth $560,000 after buying an additional 18,012 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Freshworks by 11.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,694 shares of the company’s stock worth $174,000 after buying an additional 1,160 shares during the period. 75.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FRSH has been the subject of several analyst reports. Robert W. Baird cut their price objective on shares of Freshworks from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Wall Street Zen downgraded shares of Freshworks from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 23rd. JMP Securities reissued a “market outperform” rating and issued a $27.00 price target on shares of Freshworks in a report on Friday, September 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Freshworks in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Freshworks from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.07.

Insider Activity at Freshworks

In other news, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $12.96, for a total transaction of $60,717.60. Following the completion of the sale, the director directly owned 44,218 shares of the company’s stock, valued at approximately $573,065.28. The trade was a 9.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Philippa Lawrence sold 2,590 shares of Freshworks stock in a transaction on Monday, September 15th. The stock was sold at an average price of $12.53, for a total transaction of $32,452.70. Following the sale, the chief accounting officer directly owned 415,949 shares of the company’s stock, valued at $5,211,840.97. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,329 shares of company stock valued at $534,620. 11.17% of the stock is currently owned by insiders.

Freshworks Stock Performance

NASDAQ FRSH opened at $10.88 on Friday. Freshworks Inc. has a 52-week low of $10.76 and a 52-week high of $19.77. The company has a market capitalization of $3.17 billion, a P/E ratio of -60.44 and a beta of 0.91. The company has a fifty day moving average of $12.52 and a 200-day moving average of $13.68.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Thursday, September 11th. The company reported $0.18 earnings per share (EPS) for the quarter. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The company had revenue of $204.68 million during the quarter. As a group, analysts forecast that Freshworks Inc. will post -0.19 EPS 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.