Freshworks Inc. $FRSH Stock Position Raised by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP grew its holdings in Freshworks Inc. (NASDAQ:FRSH) by 42,179.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 117,536 shares of the company’s stock after acquiring an additional 117,258 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Freshworks were worth $1,479,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Abel Hall LLC boosted its stake in Freshworks by 8.2% in the 3rd quarter. Abel Hall LLC now owns 11,283 shares of the company’s stock worth $144,000 after purchasing an additional 855 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Freshworks by 8.7% in the third quarter. Signaturefd LLC now owns 11,479 shares of the company’s stock worth $147,000 after buying an additional 916 shares during the last quarter. Parcion Private Wealth LLC raised its holdings in shares of Freshworks by 5.5% in the third quarter. Parcion Private Wealth LLC now owns 27,367 shares of the company’s stock worth $350,000 after buying an additional 1,417 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of Freshworks by 7.5% during the third quarter. Sterling Capital Management LLC now owns 31,657 shares of the company’s stock worth $405,000 after buying an additional 2,218 shares during the period. Finally, Provenance Wealth Advisors LLC acquired a new stake in shares of Freshworks during the third quarter worth $28,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Price Performance

NASDAQ:FRSH opened at $12.08 on Thursday. The company’s fifty day moving average price is $13.34 and its 200-day moving average price is $10.51. Freshworks Inc. has a 1-year low of $6.79 and a 1-year high of $15.51. The firm has a market capitalization of $3.15 billion, a P/E ratio of 42.43, a PEG ratio of 4.32 and a beta of 0.80.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. The company had revenue of $245.43 million for the quarter, compared to analyst estimates of $245.06 million. Freshworks had a net margin of 22.28% and a return on equity of 8.01%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 earnings per share. Equities analysts anticipate that Freshworks Inc. will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Freshworks news, CAO Philippa Lawrence sold 3,492 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $12.98, for a total value of $45,326.16. Following the completion of the transaction, the chief accounting officer directly owned 379,639 shares of the company’s stock, valued at approximately $4,927,714.22. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 8.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wolfe Research lowered shares of Freshworks from an “outperform” rating to a “peer perform” rating in a report on Wednesday, November 4th. Guggenheim assumed coverage on Freshworks in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $25.00 target price on the stock. Oppenheimer restated a “market perform” rating on shares of Freshworks in a research note on Wednesday, November 4th. Cantor Fitzgerald lifted their price target on Freshworks from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. Finally, UBS Group boosted their price target on Freshworks from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.92.

Freshworks Company Profile

Freshworks Inc. develops cloud-based software designed to help businesses manage customer and employee experiences. Its products support customer service, sales, marketing and IT service management, with tools for handling support requests, communicating with customers and managing internal service workflows. The company’s offerings include Freshdesk for customer support, Freshservice for IT and employee service management, and Freshsales for sales teams. Freshworks also provides customer messaging and marketing products, along with artificial intelligence features that assist with service and support tasks.