Universal Beteiligungs und Servicegesellschaft mbH Has $346,000 Position in Freshworks Inc. $FRSH

Universal Beteiligungs und Servicegesellschaft mbH lessened its stake in Freshworks Inc. (NASDAQ:FRSH) by 92.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,198 shares of the company’s stock after selling 296,443 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Freshworks were worth $346,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake in shares of Freshworks by 34.1% during the second quarter. Envestnet Asset Management Inc. now owns 110,654 shares of the company’s stock valued at $1,650,000 after acquiring an additional 28,152 shares during the period. Geode Capital Management LLC raised its holdings in Freshworks by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,856,163 shares of the company’s stock worth $72,414,000 after purchasing an additional 75,688 shares during the last quarter. Inlight Wealth Management LLC bought a new stake in Freshworks during the 2nd quarter worth about $1,773,000. Pier 88 Investment Partners LLC lifted its position in Freshworks by 68.6% during the 2nd quarter. Pier 88 Investment Partners LLC now owns 80,680 shares of the company’s stock valued at $1,203,000 after purchasing an additional 32,830 shares during the period. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Freshworks in the 2nd quarter valued at about $1,080,000. 75.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on FRSH. Morgan Stanley lowered their price target on shares of Freshworks from $18.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of Freshworks in a report on Friday, September 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Freshworks in a research note on Wednesday, October 8th. UBS Group restated a “buy” rating and issued a $17.00 price target on shares of Freshworks in a research report on Friday, November 14th. Finally, Canaccord Genuity Group decreased their price objective on Freshworks from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.23.

Insider Buying and Selling at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 4,289 shares of Freshworks stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $13.18, for a total value of $56,529.02. Following the transaction, the insider owned 533,993 shares of the company’s stock, valued at approximately $7,038,027.74. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dennis Woodside purchased 176,100 shares of Freshworks stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $11.31 per share, with a total value of $1,991,691.00. Following the acquisition, the chief executive officer directly owned 2,111,517 shares of the company’s stock, valued at approximately $23,881,257.27. This trade represents a 9.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 23,782 shares of company stock worth $307,963 over the last three months. Company insiders own 11.17% of the company’s stock.

Freshworks Stock Up 1.1%

Shares of NASDAQ FRSH opened at $12.14 on Friday. Freshworks Inc. has a twelve month low of $10.51 and a twelve month high of $19.77. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -121.39 and a beta of 0.90. The company’s fifty day moving average is $11.59 and its 200-day moving average is $13.28.

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

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.