Quantbot Technologies LP Purchases New Shares in Freshworks Inc. (NASDAQ:FRSH)

Quantbot Technologies LP acquired a new stake in Freshworks Inc. (NASDAQ:FRSH) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 250,678 shares of the company’s stock, valued at approximately $4,565,000. Quantbot Technologies LP owned approximately 0.08% of Freshworks at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in Freshworks in the 3rd quarter worth approximately $81,000. Quest Partners LLC acquired a new position in shares of Freshworks during the fourth quarter valued at $166,000. Northside Capital Management LLC bought a new position in Freshworks in the fourth quarter valued at about $226,000. Xponance Inc. acquired a new stake in Freshworks in the fourth quarter worth about $231,000. Finally, Steph & Co. bought a new stake in Freshworks during the 1st quarter worth about $201,000. 75.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on FRSH. Canaccord Genuity Group reduced their target price on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com lowered shares of Freshworks from a “buy” rating to a “hold” rating in a report on Saturday, June 22nd. Robert W. Baird downgraded Freshworks from an “outperform” rating to a “neutral” rating and cut their price target for the company from $28.00 to $16.00 in a research note on Thursday, May 2nd. Barclays decreased their price objective on Freshworks from $20.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, May 3rd. Finally, Cantor Fitzgerald cut their target price on Freshworks from $25.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.53.

Freshworks Stock Up 1.1 %

FRSH traded up $0.14 during trading on Friday, hitting $12.90. The company had a trading volume of 2,247,210 shares, compared to its average volume of 2,651,284. The company has a market capitalization of $3.85 billion, a PE ratio of -32.25 and a beta of 0.74. Freshworks Inc. has a one year low of $11.90 and a one year high of $24.98. The firm’s 50-day moving average price is $13.02 and its 200 day moving average price is $17.63.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $165.14 million for the quarter, compared to analyst estimates of $163.53 million. Freshworks had a negative return on equity of 10.66% and a negative net margin of 18.93%. Sell-side analysts forecast that Freshworks Inc. will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $12.28, for a total value of $57,531.80. Following the sale, the director now owns 35,853 shares of the company’s stock, valued at $440,274.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $12.28, for a total transaction of $57,531.80. Following the completion of the transaction, the director now directly owns 35,853 shares of the company’s stock, valued at $440,274.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $12.75, for a total value of $107,635.50. Following the transaction, the director now directly owns 16,535 shares in the company, valued at approximately $210,821.25. The disclosure for this sale can be found here. Insiders sold a total of 34,296 shares of company stock valued at $443,630 in the last quarter. 19.15% of the stock is currently owned by 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.