Cary Street Partners Asset Management LLC Takes Position in Freshworks Inc. (NASDAQ:FRSH)

Cary Street Partners Asset Management LLC acquired a new stake in Freshworks Inc. (NASDAQ:FRSH) during the third quarter, according to its most recent filing with the SEC. The firm acquired 14,425 shares of the company’s stock, valued at approximately $166,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after buying an additional 2,822 shares during the last quarter. Advisors Asset Management Inc. grew its position in Freshworks by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after buying an additional 757 shares during the last quarter. CWM LLC boosted its position in shares of Freshworks by 554.5% during the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after purchasing an additional 2,878 shares in the last quarter. Quarry LP boosted its position in shares of Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after purchasing an additional 2,645 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Freshworks during the 1st quarter worth $82,000. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Roxanne S. Austin sold 6,303 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $11.22, for a total transaction of $70,719.66. Following the completion of the transaction, the director now owns 223,106 shares of the company’s stock, valued at $2,503,249.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Zachary Nelson sold 8,433 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $12.19, for a total value of $102,798.27. Following the transaction, the director now owns 23,497 shares of the company’s stock, valued at approximately $286,428.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roxanne S. Austin sold 6,303 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $11.22, for a total transaction of $70,719.66. Following the sale, the director now directly owns 223,106 shares of the company’s stock, valued at approximately $2,503,249.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,456 shares of company stock valued at $530,102 in the last 90 days. 19.15% of the stock is currently owned by insiders.

Freshworks Trading Up 1.7 %

Shares of FRSH stock opened at $12.44 on Wednesday. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $24.98. The firm has a 50-day moving average price of $11.42 and a 200 day moving average price of $12.59. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -35.54 and a beta of 0.72.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company initiated coverage on shares of Freshworks in a research report on Wednesday, October 16th. They set an “equal weight” rating and a $11.00 target price on the stock. Jefferies Financial Group decreased their price objective on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald decreased their price objective on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Canaccord Genuity Group decreased their price objective on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.54.

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.