Bryce Point Capital LLC Makes New Investment in Freshworks Inc. (NASDAQ:FRSH)

Bryce Point Capital LLC bought a new stake in Freshworks Inc. (NASDAQ:FRSH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 35,307 shares of the company’s stock, valued at approximately $571,000.

Other large investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new position in Freshworks in the 4th quarter valued at $61,530,000. Norges Bank acquired a new position in shares of Freshworks during the fourth quarter worth about $57,527,000. JPMorgan Chase & Co. raised its holdings in Freshworks by 49.8% during the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock worth $60,503,000 after purchasing an additional 1,752,995 shares in the last quarter. Vanguard Group Inc. lifted its position in Freshworks by 5.7% in the fourth 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 period. Finally, Raymond James Financial Inc. purchased a new stake in Freshworks in the 4th quarter valued at approximately $20,666,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on FRSH. Morgan Stanley raised their price target on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. StockNews.com upgraded shares of Freshworks from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. UBS Group set a $22.00 price target on shares of Freshworks in a report on Thursday, February 6th. Robert W. Baird set a $18.00 price objective on Freshworks in a research note on Wednesday, February 12th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.14.

Insider Activity

In other news, Director Johanna Flower sold 1,450 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $18.01, for a total value of $26,114.50. Following the completion of the sale, the director now owns 41,491 shares in the company, valued at approximately $747,252.91. This trade represents a 3.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mika Yamamoto sold 2,859 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.29, for a total transaction of $52,291.11. Following the sale, the insider now directly owns 397,390 shares of the company’s stock, valued at approximately $7,268,263.10. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,688 shares of company stock valued at $905,061 in the last three months. Corporate insiders own 19.15% of the company’s stock.

Freshworks Stock Performance

Freshworks stock opened at $14.59 on Thursday. The company has a market cap of $4.40 billion, a price-to-earnings ratio of -45.59 and a beta of 0.92. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The firm has a 50 day moving average price of $16.73 and a 200 day moving average price of $15.15.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data 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 return on equity of 6.63% and a negative net margin of 13.24%. Sell-side 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.