EntryPoint Capital LLC Buys Shares of 4,507 Freshworks Inc. (NASDAQ:FRSH)

EntryPoint Capital LLC acquired a new stake in shares of Freshworks Inc. (NASDAQ:FRSH) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 4,507 shares of the company’s stock, valued at approximately $82,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FRSH. Arizona State Retirement System increased its position in shares of Freshworks by 3.6% during the 4th quarter. Arizona State Retirement System now owns 42,120 shares of the company’s stock valued at $989,000 after purchasing an additional 1,453 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Freshworks in the 4th quarter worth approximately $483,000. Moody Aldrich Partners LLC purchased a new stake in Freshworks in the 4th quarter worth approximately $4,482,000. Sapient Capital LLC purchased a new position in shares of Freshworks in the 4th quarter valued at approximately $306,000. Finally, Federated Hermes Inc. lifted its stake in shares of Freshworks by 16.0% in the 4th quarter. Federated Hermes Inc. now owns 545,922 shares of the company’s stock valued at $12,824,000 after purchasing an additional 75,307 shares during the period. 75.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 7,028 shares of Freshworks stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $13.74, for a total transaction of $96,564.72. Following the transaction, the director now directly owns 19,991 shares of the company’s stock, valued at $274,676.34. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Jennifer H. Taylor sold 7,028 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $13.74, for a total transaction of $96,564.72. Following the transaction, the director now directly owns 19,991 shares of the company’s stock, valued at $274,676.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jennifer H. Taylor sold 7,035 shares of Freshworks stock in a transaction on Monday, June 10th. The stock was sold at an average price of $12.73, for a total transaction of $89,555.55. Following the completion of the sale, the director now owns 19,991 shares of the company’s stock, valued at approximately $254,485.43. The disclosure for this sale can be found here. Insiders have sold a total of 34,296 shares of company stock valued at $443,630 over the last ninety days. Corporate insiders own 19.15% of the company’s stock.

Freshworks Stock Up 1.9 %

Shares of FRSH traded up $0.25 during mid-day trading on Friday, hitting $13.49. The company had a trading volume of 1,233,846 shares, compared to its average volume of 2,601,953. The business’s 50-day simple moving average is $12.90 and its 200-day simple moving average is $17.03. Freshworks Inc. has a 1-year low of $11.90 and a 1-year high of $24.98. The stock has a market cap of $4.03 billion, a PE ratio of -34.02 and a beta of 0.74.

Freshworks (NASDAQ:FRSH) last released its earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. Freshworks had a negative net margin of 18.93% and a negative return on equity of 10.66%. The business had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $163.53 million. On average, sell-side analysts expect that Freshworks Inc. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

FRSH has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their target price on Freshworks from $20.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. JMP Securities dropped their target price on shares of Freshworks from $29.00 to $21.00 and set a “market outperform” rating for the company in a research report on Thursday, May 2nd. Barclays cut their target price on shares of Freshworks from $20.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, May 3rd. Robert W. Baird lowered shares of Freshworks from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $28.00 to $16.00 in a research report on Thursday, May 2nd. Finally, StockNews.com lowered shares of Freshworks from a “buy” rating to a “hold” rating in a report on Saturday, June 22nd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.53.

About Freshworks

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.