Dynamic Technology Lab Private Ltd Increases Position in Freshworks Inc. (NASDAQ:FRSH)

Dynamic Technology Lab Private Ltd increased its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 264.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 156,450 shares of the company’s stock after acquiring an additional 113,497 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Freshworks were worth $1,796,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Freshworks by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock valued at $385,525,000 after buying an additional 1,354,530 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Freshworks by 34.2% during the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after acquiring an additional 757 shares during the period. Bayesian Capital Management LP raised its holdings in Freshworks by 83.1% during the first quarter. Bayesian Capital Management LP now owns 72,507 shares of the company’s stock worth $1,320,000 after purchasing an additional 32,900 shares in the last quarter. California State Teachers Retirement System lifted its position in Freshworks by 0.5% in the first quarter. California State Teachers Retirement System now owns 161,706 shares of the company’s stock valued at $2,945,000 after purchasing an additional 831 shares during the period. Finally, Moody National Bank Trust Division acquired a new stake in Freshworks in the second quarter valued at about $144,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Insiders Place Their Bets

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $11.06, for a total value of $51,871.40. Following the completion of the sale, the director now directly owns 36,689 shares of the company’s stock, valued at approximately $405,780.34. The trade was a 11.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $12.19, for a total value of $102,798.27. Following the transaction, the director now directly owns 23,497 shares in the company, valued at approximately $286,428.43. This represents a 26.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,463 shares of company stock valued at $406,714. Corporate insiders own 19.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FRSH. Wells Fargo & Company increased their target price on Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Jefferies Financial Group cut their price objective on Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Barclays decreased their target price on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald cut their price target on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Freshworks in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Freshworks presently has a consensus rating of “Moderate Buy” and an average price target of $18.69.

Freshworks Price Performance

Shares of FRSH opened at $16.45 on Tuesday. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $24.98. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -48.38 and a beta of 0.72. The firm has a 50 day simple moving average of $12.56 and a 200-day simple moving average of $12.52.

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.