National Bank of Canada FI Has $64,000 Stock Holdings in Freshworks Inc. (NASDAQ:FRSH)

National Bank of Canada FI lifted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 1,385.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,967 shares of the company’s stock after buying an additional 3,700 shares during the period. National Bank of Canada FI’s holdings in Freshworks were worth $64,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FRSH. Arrowstreet Capital Limited Partnership acquired a new position in Freshworks during the fourth quarter worth about $61,530,000. Cornercap Investment Counsel Inc. increased its position in Freshworks by 23.4% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 26,916 shares of the company’s stock worth $435,000 after purchasing an additional 5,104 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Freshworks by 18.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 25,742 shares of the company’s stock valued at $416,000 after purchasing an additional 4,020 shares during the last quarter. Norges Bank acquired a new stake in Freshworks in the fourth quarter valued at approximately $57,527,000. Finally, Artisan Partners Limited Partnership acquired a new stake in Freshworks in the fourth quarter valued at approximately $16,000,000. 75.58% of the stock is currently owned by institutional investors.

Freshworks Stock Down 0.3 %

FRSH stock opened at $12.53 on Friday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -39.16 and a beta of 0.98. The company’s fifty day simple moving average is $15.65 and its 200 day simple moving average is $15.20. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $19.77.

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

Analyst Upgrades and Downgrades

FRSH has been the subject of a number of research reports. Canaccord Genuity Group increased 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. UBS Group set a $22.00 price target on Freshworks in a research note on Thursday, February 6th. Jefferies Financial Group reduced their price target on Freshworks from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, March 31st. JMP Securities set a $27.00 price objective on shares of Freshworks in a report on Wednesday, February 12th. Finally, Oppenheimer reduced their target price on shares of Freshworks from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Freshworks currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.79.

Insider Buying and Selling at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 2,859 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.29, for a total value of $52,291.11. Following the completion of the sale, the insider now directly owns 397,390 shares in the company, valued at approximately $7,268,263.10. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Johanna Flower sold 21,400 shares of Freshworks stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $18.00, for a total transaction of $385,200.00. Following the completion of the sale, the director now directly owns 41,491 shares of the company’s stock, valued at approximately $746,838. This trade represents a 34.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,577 shares of company stock valued at $883,242. 19.15% of the stock is currently owned by company insiders.

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.