Freshworks Inc. (NASDAQ:FRSH) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP cut its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 87.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,982 shares of the company’s stock after selling 86,246 shares during the period. Aigen Investment Management LP’s holdings in Freshworks were worth $194,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Freshworks by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,609,957 shares of the company’s stock valued at $26,033,000 after buying an additional 53,185 shares in the last quarter. Versor Investments LP grew its holdings in shares of Freshworks by 3.0% in the 4th quarter. Versor Investments LP now owns 34,400 shares of the company’s stock worth $556,000 after acquiring an additional 1,000 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Freshworks during the fourth quarter worth $2,043,000. Ieq Capital LLC lifted its holdings in shares of Freshworks by 29.3% during the fourth quarter. Ieq Capital LLC now owns 1,462,541 shares of the company’s stock valued at $23,649,000 after purchasing an additional 331,298 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Freshworks by 365.6% in the 4th quarter. New York State Common Retirement Fund now owns 278,409 shares of the company’s stock valued at $4,502,000 after purchasing an additional 218,617 shares during the period. 75.58% of the stock is currently owned by institutional investors.

Freshworks Price Performance

Shares of FRSH stock opened at $15.80 on Monday. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The stock’s 50-day moving average is $17.23 and its two-hundred day moving average is $14.73. The firm has a market cap of $4.76 billion, a P/E ratio of -49.38 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results 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%. As a group, research analysts expect that Freshworks Inc. will post -0.19 EPS for the current year.

Insider Transactions at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $16.74, for a total transaction of $78,510.60. Following the transaction, the director now directly owns 36,689 shares of the company’s stock, valued at $614,173.86. This represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mika Yamamoto sold 5,718 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $16.95, for a total value of $96,920.10. Following the completion of the sale, the insider now directly owns 403,108 shares of the company’s stock, valued at $6,832,680.60. This represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,739,953 shares of company stock worth $27,439,720 in the last 90 days. 19.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FRSH. Piper Sandler boosted their price objective on Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Canaccord Genuity Group boosted their price target on shares of Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald raised their price objective on shares of Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. StockNews.com raised shares of Freshworks from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Scotiabank increased their target price on Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Freshworks currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

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.