33,400 Shares in Freshworks Inc. (NASDAQ:FRSH) Purchased by Versor Investments LP

Versor Investments LP acquired a new position in Freshworks Inc. (NASDAQ:FRSH) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 33,400 shares of the company’s stock, valued at approximately $383,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted 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 worth $385,525,000 after acquiring an additional 1,354,530 shares in the last quarter. Sei Investments Co. lifted its stake in Freshworks by 191.9% in the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock worth $1,216,000 after acquiring an additional 63,006 shares in the last quarter. ProShare Advisors LLC lifted its stake in Freshworks by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 29,127 shares of the company’s stock worth $530,000 after acquiring an additional 2,293 shares in the last quarter. M&G PLC purchased a new stake in shares of Freshworks during the 3rd quarter worth about $9,094,000. Finally, Marshall Wace LLP purchased a new stake in shares of Freshworks during the 2nd quarter worth about $1,740,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FRSH shares. Wells Fargo & Company raised their price target on Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Scotiabank lowered their price objective on Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group lowered their price objective on Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Cantor Fitzgerald lowered their price objective on Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock 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 research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.69.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.17, for a total value of $52,331.45. Following the completion of the transaction, the director now owns 35,853 shares in the company, valued at approximately $400,478.01. The trade was a 11.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.54, for a total value of $97,316.82. Following the completion of the transaction, the director now owns 22,530 shares of the company’s stock, valued at approximately $259,996.20. The trade was a 27.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,463 shares of company stock worth $406,714. 19.15% of the stock is currently owned by insiders.

Freshworks Price Performance

Freshworks stock opened at $16.32 on Friday. The company has a market capitalization of $4.93 billion, a PE ratio of -48.00 and a beta of 0.72. Freshworks Inc. has a one year low of $10.81 and a one year high of $24.98. The business has a 50 day simple moving average of $12.04 and a 200 day simple moving average of $12.56.

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.