Versor Investments LP Has $556,000 Stake in Freshworks Inc. (NASDAQ:FRSH)

Versor Investments LP increased its stake in Freshworks Inc. (NASDAQ:FRSH) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,400 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Versor Investments LP’s holdings in Freshworks were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Avion Wealth acquired a new position in shares of Freshworks during the fourth quarter worth about $26,000. Blue Trust Inc. lifted its stake in Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after acquiring an additional 2,822 shares in the last quarter. Covestor Ltd boosted its position in Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Freshworks during the 3rd quarter worth approximately $57,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Freshworks by 102.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after purchasing an additional 2,223 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Insider Activity at Freshworks

In other news, Director Zachary Nelson sold 8,442 shares of Freshworks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the completion of the sale, the director now owns 24,187 shares of the company’s stock, valued at approximately $442,622.10. This trade represents a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $16.74, for a total transaction of $78,510.60. Following the completion of the sale, the director now directly owns 36,689 shares of the company’s stock, valued at approximately $614,173.86. The trade was a 11.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,728,661 shares of company stock worth $27,250,861. Insiders own 19.15% of the company’s stock.

Freshworks Trading Down 0.1 %

Shares of NASDAQ FRSH opened at $17.06 on Friday. The company has a market capitalization of $5.17 billion, a P/E ratio of -53.31 and a beta of 0.91. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $20.60. The stock has a 50 day moving average of $17.19 and a 200-day moving average of $14.52.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. Analysts predict that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

FRSH has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Morgan Stanley increased their price objective on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Barclays lifted their target price on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Scotiabank increased their price target on Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group raised their price target on Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a research note 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.62.

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.