Eagle Asset Management Inc. Has $13.02 Million Position in Freshworks Inc. (NASDAQ:FRSH)

Eagle Asset Management Inc. cut its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,134,139 shares of the company’s stock after selling 28,178 shares during the quarter. Eagle Asset Management Inc. owned 0.38% of Freshworks worth $13,020,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in shares of Freshworks by 1,987.3% during the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after buying an additional 2,822 shares during the last quarter. Advisors Asset Management Inc. raised its position in Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after purchasing an additional 757 shares during the last quarter. CWM LLC raised its position in Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after purchasing an additional 2,878 shares during the last quarter. Covestor Ltd boosted its stake in shares of Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of Freshworks by 157.6% during the second quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after purchasing an additional 2,645 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FRSH shares. Piper Sandler lifted their target price on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Jefferies Financial Group cut their price target on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Cantor Fitzgerald decreased their price objective on Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Scotiabank cut their target price on Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Finally, Robert W. Baird decreased their price target on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Freshworks has a consensus rating of “Moderate Buy” and an average price target of $18.69.

Freshworks Stock Performance

NASDAQ:FRSH opened at $16.54 on Friday. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $24.98. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -48.65 and a beta of 0.72. The firm has a fifty day simple moving average of $12.56 and a two-hundred day simple moving average of $12.54.

Insider Transactions at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total transaction of $93,199.68. Following the completion of the sale, the director now owns 23,497 shares in the company, valued at approximately $259,406.88. The trade was a 26.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $11.17, for a total transaction of $52,331.45. Following the sale, the director now directly owns 35,853 shares of the company’s stock, valued at approximately $400,478.01. The trade was a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,463 shares of company stock valued at $406,714 in the last 90 days. 19.15% of the stock is currently owned by corporate insiders.

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.