Twin Tree Management LP Buys Shares of 219,262 Freshworks Inc. (NASDAQ:FRSH)

Twin Tree Management LP bought a new stake in Freshworks Inc. (NASDAQ:FRSH) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 219,262 shares of the company’s stock, valued at approximately $3,545,000. Twin Tree Management LP owned 0.07% of Freshworks as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Smith Group Asset Management LLC bought a new stake in shares of Freshworks during the 4th quarter valued at approximately $589,000. Quantbot Technologies LP grew its holdings in shares of Freshworks by 80.1% during the 3rd quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock valued at $4,895,000 after purchasing an additional 189,616 shares during the last quarter. Barclays PLC grew its holdings in shares of Freshworks by 33.4% during the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock valued at $3,875,000 after purchasing an additional 84,568 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Freshworks during the 3rd quarter valued at approximately $1,193,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Freshworks by 806.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock valued at $2,699,000 after purchasing an additional 209,194 shares during the last quarter. 75.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald lifted their price target on shares of Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Wells Fargo & Company downgraded shares of Freshworks from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $16.00 to $13.00 in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Freshworks from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Piper Sandler lifted their target price on shares of Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Barclays lifted their target price on shares of Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Freshworks currently has an average rating of “Moderate Buy” and a consensus target price of $21.14.

Freshworks Stock Down 0.2 %

NASDAQ:FRSH opened at $15.19 on Wednesday. The company has a fifty day moving average of $17.06 and a 200-day moving average of $14.88. The firm has a market capitalization of $4.58 billion, a P/E ratio of -47.47 and a beta of 0.92. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. On average, analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Insider Activity

In other Freshworks news, Director Johanna Flower sold 1,450 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $18.01, for a total transaction of $26,114.50. Following the completion of the sale, the director now owns 41,491 shares in the company, valued at approximately $747,252.91. The trade was a 3.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Rathnagirish Mathrubootham sold 830,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.33, for a total transaction of $12,723,900.00. Following the sale, the chairman now owns 551,137 shares of the company’s stock, valued at $8,448,930.21. This trade represents a 60.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 892,200 shares of company stock worth $13,796,921 in the last quarter. 19.15% of the stock is owned by corporate insiders.

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.