Stanley Laman Group Ltd. Has $9.04 Million Holdings in Freshworks Inc. (NASDAQ:FRSH)

Stanley Laman Group Ltd. decreased its stake in Freshworks Inc. (NASDAQ:FRSH) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 558,914 shares of the company’s stock after selling 52,595 shares during the period. Freshworks comprises about 1.3% of Stanley Laman Group Ltd.’s holdings, making the stock its 7th largest holding. Stanley Laman Group Ltd. owned about 0.18% of Freshworks worth $9,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smith Group Asset Management LLC bought a new position in Freshworks during the fourth quarter worth $589,000. Quantbot Technologies LP increased its holdings in Freshworks by 80.1% during the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock worth $4,895,000 after buying an additional 189,616 shares during the last quarter. Barclays PLC increased its holdings in Freshworks by 33.4% during the third quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after buying an additional 84,568 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Freshworks in the third quarter worth about $1,193,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Freshworks by 806.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock worth $2,699,000 after purchasing an additional 209,194 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FRSH has been the subject of several recent analyst reports. Oppenheimer boosted their price objective on shares of Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday. JMP Securities boosted their price objective on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Piper Sandler lifted their target price on shares of Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday. Cantor Fitzgerald lifted their target price on shares of Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company downgraded shares of Freshworks from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $16.00 to $13.00 in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.07.

Insider Activity at Freshworks

In related news, Director Zachary Nelson sold 8,442 shares of Freshworks stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total value of $154,488.60. Following the sale, the director now directly owns 24,187 shares in the company, valued at $442,622.10. The trade was a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Rathnagirish Mathrubootham sold 830,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $15.33, for a total value of $12,723,900.00. Following the sale, the chairman now owns 551,137 shares in the company, valued at approximately $8,448,930.21. The trade was a 60.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,727,211 shares of company stock worth $27,224,746 in the last three months. 19.15% of the stock is owned by company insiders.

Freshworks Stock Down 0.3 %

Freshworks stock opened at $17.80 on Thursday. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $21.61. The stock has a 50-day moving average price of $16.97 and a 200 day moving average price of $14.08.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 14.80% and a negative return on equity of 8.57%. Research analysts anticipate that Freshworks Inc. will post -0.35 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.