Dakota Wealth Management Buys Shares of 18,945 Freshworks Inc. (NASDAQ:FRSH)

Dakota Wealth Management bought a new stake in Freshworks Inc. (NASDAQ:FRSH) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,945 shares of the company’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Deutsche Bank AG boosted its holdings in shares of Freshworks by 15.8% during the fourth quarter. Deutsche Bank AG now owns 513,810 shares of the company’s stock worth $8,308,000 after purchasing an additional 70,001 shares during the period. Principal Financial Group Inc. lifted its stake in Freshworks by 2,786.7% in the 1st quarter. Principal Financial Group Inc. now owns 512,875 shares of the company’s stock worth $7,237,000 after purchasing an additional 495,108 shares in the last quarter. ProShare Advisors LLC grew its holdings in Freshworks by 48.9% during the 4th quarter. ProShare Advisors LLC now owns 58,200 shares of the company’s stock valued at $941,000 after purchasing an additional 19,125 shares during the last quarter. WCM Investment Management LLC bought a new position in Freshworks in the 1st quarter worth about $13,426,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Freshworks by 128.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 26,878 shares of the company’s stock valued at $379,000 after acquiring an additional 15,092 shares during the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Insider Activity

In other Freshworks news, Director Barry L. Padgett sold 7,558 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $15.14, for a total transaction of $114,428.12. Following the transaction, the director directly owned 32,635 shares in the company, valued at $494,093.90. This represents a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer H. Taylor sold 7,558 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $15.13, for a total value of $114,352.54. Following the completion of the transaction, the director directly owned 44,218 shares in the company, valued at $669,018.34. This trade represents a 14.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,075 shares of company stock worth $3,219,261 over the last quarter. Company insiders own 11.17% of the company’s stock.

Freshworks Price Performance

Shares of Freshworks stock opened at $14.19 on Friday. The stock has a fifty day moving average price of $15.02 and a 200-day moving average price of $15.45. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The firm has a market cap of $4.19 billion, a PE ratio of -59.12 and a beta of 0.95.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, April 29th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $196.27 million for the quarter, compared to analysts’ expectations of $191.90 million. Freshworks had a negative return on equity of 4.41% and a negative net margin of 9.76%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, equities analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on FRSH. Morgan Stanley increased their price objective on shares of Freshworks from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, May 1st. JMP Securities restated a “market outperform” rating and set a $27.00 price target on shares of Freshworks in a research report on Wednesday, April 30th. Oppenheimer reduced their price objective on Freshworks from $24.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Cantor Fitzgerald raised Freshworks to an “overweight” rating and set a $20.00 price objective for the company in a report on Tuesday, June 3rd. Finally, UBS Group reduced their price target on Freshworks from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Freshworks presently has an average rating of “Moderate Buy” and a consensus price target of $20.07.

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.