Fox Run Management L.L.C. Has $417,000 Position in Freshworks Inc. $FRSH

Fox Run Management L.L.C. cut its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 40.6% in the second quarter, Holdings Channel reports. The institutional investor owned 27,950 shares of the company’s stock after selling 19,075 shares during the period. Fox Run Management L.L.C.’s holdings in Freshworks were worth $417,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Freshworks during the 2nd quarter worth approximately $25,000. Nisa Investment Advisors LLC grew its position in Freshworks by 55.1% in the second quarter. Nisa Investment Advisors LLC now owns 6,064 shares of the company’s stock valued at $90,000 after purchasing an additional 2,155 shares in the last quarter. Liberty Mutual Group Asset Management Inc. acquired a new stake in Freshworks in the 1st quarter valued at $106,000. US Bancorp DE lifted its position in Freshworks by 671.4% during the 1st quarter. US Bancorp DE now owns 8,331 shares of the company’s stock worth $118,000 after buying an additional 7,251 shares in the last quarter. Finally, Perbak Capital Partners LLP acquired a new position in shares of Freshworks during the 1st quarter worth about $147,000. Institutional investors own 75.58% of the company’s stock.

Freshworks Price Performance

Shares of Freshworks stock opened at $11.64 on Thursday. The business has a fifty day simple moving average of $11.81 and a two-hundred day simple moving average of $13.49. Freshworks Inc. has a 1 year low of $10.51 and a 1 year high of $19.77. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -116.39 and a beta of 0.90.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data on Thursday, September 11th. The company reported $0.18 EPS for the quarter. The firm had revenue of $204.68 million for the quarter. Freshworks had a negative net margin of 3.65% and a negative return on equity of 0.37%. As a group, equities analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Mika Yamamoto sold 4,289 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $13.18, for a total transaction of $56,529.02. Following the completion of the sale, the insider owned 533,993 shares in the company, valued at $7,038,027.74. The trade was a 0.80% 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, CAO Philippa Lawrence sold 2,590 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $12.53, for a total value of $32,452.70. Following the completion of the transaction, the chief accounting officer directly owned 415,949 shares in the company, valued at $5,211,840.97. The trade was a 0.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 23,138 shares of company stock valued at $300,202. Company insiders own 11.17% of the company’s stock.

Analyst Upgrades and Downgrades

FRSH has been the topic of several analyst reports. Morgan Stanley dropped their target price on Freshworks from $18.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, September 12th. Robert W. Baird cut their price objective on Freshworks from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Canaccord Genuity Group decreased their target price on shares of Freshworks from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of Freshworks in a research report on Friday, September 12th. Finally, Wells Fargo & Company began coverage on shares of Freshworks in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $13.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.38.

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.