Legato Capital Management LLC Takes Position in Freshworks Inc. (NASDAQ:FRSH)

Legato Capital Management LLC purchased a new stake in Freshworks Inc. (NASDAQ:FRSH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,820 shares of the company’s stock, valued at approximately $515,000.

Other large investors have also modified their holdings of the company. Avion Wealth acquired a new stake in shares of Freshworks in the fourth quarter valued at approximately $26,000. Blue Trust Inc. grew its position in shares of Freshworks by 1,987.3% in the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after purchasing an additional 2,822 shares during the last quarter. Covestor Ltd boosted its position in Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Freshworks during the third quarter worth approximately $57,000. Finally, Nisa Investment Advisors LLC boosted its position in Freshworks by 102.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after acquiring an additional 2,223 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $16.74, for a total transaction of $78,510.60. Following the sale, the director now owns 36,689 shares of the company’s stock, valued at $614,173.86. The trade was a 11.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.85, for a total transaction of $133,663.05. Following the sale, the director now directly owns 24,187 shares in the company, valued at $383,363.95. This trade represents a 25.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,727,211 shares of company stock valued at $27,224,746 in the last quarter. Company insiders own 19.15% of the company’s stock.

Analysts Set New Price Targets

FRSH has been the topic of a number of analyst reports. Oppenheimer raised their target price on shares of Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday. Robert W. Baird decreased their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. JMP Securities raised their target price on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald increased their price target on shares of Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Freshworks presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.07.

Freshworks Trading Down 2.2 %

Shares of FRSH stock opened at $17.05 on Friday. The company’s fifty day simple moving average is $17.00 and its 200-day simple moving average is $14.13. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $21.61. The company has a market cap of $5.16 billion, a PE ratio of -50.15 and a beta of 0.91.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative net margin of 14.80% and a negative return on equity of 8.57%. Equities research analysts expect that Freshworks Inc. will post -0.35 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.