11,102 Shares in Freshworks Inc. (NASDAQ:FRSH) Bought by BluePointe Capital Management LLC

BluePointe Capital Management LLC purchased a new position in shares of Freshworks Inc. (NASDAQ:FRSH) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,102 shares of the company’s stock, valued at approximately $180,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Freshworks by 49.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock worth $60,503,000 after buying an additional 1,752,995 shares during the last quarter. State Street Corp raised its stake in shares of Freshworks by 7.1% during the third quarter. State Street Corp now owns 4,729,093 shares of the company’s stock worth $54,290,000 after acquiring an additional 313,982 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Freshworks by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock worth $52,750,000 after acquiring an additional 66,342 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Freshworks by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock valued at $44,934,000 after purchasing an additional 604,658 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Freshworks by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,609,957 shares of the company’s stock valued at $26,033,000 after purchasing an additional 53,185 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Rathnagirish Mathrubootham sold 830,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $15.33, for a total value of $12,723,900.00. Following the sale, the chairman now directly owns 551,137 shares of the company’s stock, valued at $8,448,930.21. The trade was a 60.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mika Yamamoto sold 2,859 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $16.74, for a total value of $47,859.66. Following the transaction, the insider now directly owns 615,893 shares of the company’s stock, valued at approximately $10,310,048.82. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 892,200 shares of company stock worth $13,796,921. Corporate insiders own 19.15% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on FRSH. Cantor Fitzgerald boosted 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, February 12th. StockNews.com upgraded Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Piper Sandler increased their target price on Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Barclays lifted their price target on Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Oppenheimer boosted their price objective on Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One 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. According to data from MarketBeat.com, Freshworks presently has an average rating of “Moderate Buy” and an average price target of $21.14.

Freshworks Price Performance

FRSH stock opened at $15.47 on Thursday. The firm has a 50-day moving average of $17.04 and a 200 day moving average of $14.88. The company has a market cap of $4.66 billion, a P/E ratio of -48.34 and a beta of 0.92. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77.

Freshworks (NASDAQ:FRSH) last released 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 13.24% and a negative return on equity of 6.63%. On average, equities research analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

About Freshworks

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.