Los Angeles Capital Management LLC Makes New $2.04 Million Investment in Freshworks Inc. (NASDAQ:FRSH)

Los Angeles Capital Management LLC purchased a new position in Freshworks Inc. (NASDAQ:FRSH) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 126,367 shares of the company’s stock, valued at approximately $2,043,000.

Several other large investors also recently made changes to their positions in FRSH. JPMorgan Chase & Co. raised its stake in shares of Freshworks by 49.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after acquiring an additional 1,752,995 shares in the last quarter. State Street Corp raised its position in shares of Freshworks by 7.1% in the third quarter. State Street Corp now owns 4,729,093 shares of the company’s stock valued at $54,290,000 after purchasing an additional 313,982 shares during the period. Geode Capital Management LLC raised its position in shares of Freshworks by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock valued at $52,750,000 after purchasing an additional 66,342 shares during the period. Franklin Resources Inc. lifted its stake in shares of Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock worth $44,934,000 after buying an additional 604,658 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Freshworks by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,556,772 shares of the company’s stock worth $17,872,000 after buying an additional 24,558 shares during the period. Institutional investors own 75.58% of the company’s stock.

Insiders Place Their Bets

In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the completion of the transaction, the director now directly owns 24,187 shares in the company, valued at $442,622.10. This represents a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $78,510.60. Following the transaction, the director now directly owns 36,689 shares of the company’s stock, valued at approximately $614,173.86. The trade was a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,728,661 shares of company stock worth $27,250,861 over the last quarter. Company insiders own 19.15% of the company’s stock.

Analyst Ratings Changes

FRSH has been the topic of several recent analyst reports. Scotiabank lifted their target price on shares of Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Wells Fargo & Company lowered Freshworks from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $16.00 to $13.00 in a research note on Tuesday, January 21st. Robert W. Baird cut their price objective on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Canaccord Genuity Group raised their target price on Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald upped their price target on Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.62.

Freshworks Price Performance

Shares of FRSH stock opened at $17.06 on Friday. Freshworks Inc. has a one year low of $10.81 and a one year high of $20.60. The stock has a fifty day moving average price of $17.16 and a 200 day moving average price of $14.48. The stock has a market cap of $5.17 billion, a P/E ratio of -53.31 and a beta of 0.91.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data 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 return on equity of 6.63% and a negative net margin of 13.24%. Equities research analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current 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.