Freshworks Inc. (NASDAQ:FRSH) Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lessened its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,610 shares of the company’s stock after selling 2,390 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Freshworks were worth $2,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after buying an additional 954 shares during the last quarter. Versor Investments LP raised its holdings in shares of Freshworks by 3.0% during the 4th quarter. Versor Investments LP now owns 34,400 shares of the company’s stock worth $556,000 after acquiring an additional 1,000 shares during the period. Covestor Ltd raised its holdings in shares of Freshworks by 30.2% during the 4th quarter. Covestor Ltd now owns 4,686 shares of the company’s stock worth $76,000 after acquiring an additional 1,087 shares during the period. Arizona State Retirement System boosted its position in shares of Freshworks by 2.2% during the 4th quarter. Arizona State Retirement System now owns 51,704 shares of the company’s stock valued at $836,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Freshworks by 10.2% in the fourth quarter. Xponance Inc. now owns 14,847 shares of the company’s stock valued at $240,000 after purchasing an additional 1,369 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Insider Buying and Selling at Freshworks

In other news, insider Mika Yamamoto sold 2,859 shares of Freshworks stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.74, for a total value of $47,859.66. Following the completion of the transaction, the insider now owns 615,893 shares in the company, valued at approximately $10,310,048.82. This trade represents a 0.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $14.69, for a total transaction of $123,880.77. Following the sale, the director now owns 24,890 shares in the company, valued at $365,634.10. The trade was a 25.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,421 shares of company stock valued at $603,164 in the last 90 days. Company insiders own 11.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FRSH. Oppenheimer reduced their target price on shares of Freshworks from $24.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. JMP Securities restated a “market outperform” rating and set a $27.00 price target on shares of Freshworks in a report on Wednesday, April 30th. Wells Fargo & Company lifted their price target on shares of Freshworks from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Wednesday, April 30th. Piper Sandler reiterated an “overweight” rating and issued a $22.00 price objective (up from $20.00) on shares of Freshworks in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group cut their target price on Freshworks from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Freshworks presently has a consensus rating of “Moderate Buy” and an average target price of $20.21.

Freshworks Price Performance

NASDAQ FRSH opened at $14.89 on Wednesday. The company has a market cap of $4.39 billion, a P/E ratio of -46.53 and a beta of 0.97. The stock has a 50-day moving average of $14.07 and a two-hundred day moving average of $15.73. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The firm had revenue of $196.27 million during the quarter, compared to analysts’ expectations of $191.90 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

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.