Geode Capital Management LLC Has $75.59 Million Holdings in Freshworks Inc. (NASDAQ:FRSH)

Geode Capital Management LLC lifted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,673,600 shares of the company’s stock after acquiring an additional 79,388 shares during the quarter. Geode Capital Management LLC owned approximately 1.54% of Freshworks worth $75,588,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Freshworks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company’s stock valued at $405,283,000 after purchasing an additional 1,357,526 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Freshworks by 49.8% during 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 boosted its holdings in shares of Freshworks by 7.1% during the 3rd quarter. State Street Corp now owns 4,729,093 shares of the company’s stock worth $54,290,000 after buying an additional 313,982 shares during the period. Franklin Resources Inc. grew its stake in 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 buying an additional 604,658 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Freshworks in the 4th quarter valued at about $61,530,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 3,574 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $14.20, for a total transaction of $50,750.80. Following the completion of the transaction, the insider now owns 611,604 shares of the company’s stock, valued at approximately $8,684,776.80. The trade was a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.72, for a total transaction of $140,999.76. Following the completion of the transaction, the director now directly owns 24,187 shares of the company’s stock, valued at $404,406.64. This trade represents a 25.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,577 shares of company stock valued at $883,242. Corporate insiders own 19.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on FRSH shares. Cantor Fitzgerald upped their target price on Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Jefferies Financial Group decreased their price objective on Freshworks from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Wells Fargo & Company cut Freshworks from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $16.00 to $13.00 in a research report on Tuesday, January 21st. Oppenheimer reduced their target price on shares of Freshworks from $24.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Scotiabank raised their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.79.

Freshworks Stock Down 0.3 %

FRSH stock opened at $12.53 on Friday. The company’s 50-day moving average price is $15.65 and its two-hundred day moving average price is $15.20. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The firm has a market cap of $3.78 billion, a P/E ratio of -39.16 and a beta of 0.98.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. Equities analysts predict that Freshworks Inc. will post -0.19 EPS for the current 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.