Sapient Capital LLC Grows Holdings in Freshworks Inc. (NASDAQ:FRSH)

Sapient Capital LLC grew its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 48.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,221 shares of the company’s stock after buying an additional 6,895 shares during the quarter. Sapient Capital LLC’s holdings in Freshworks were worth $343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after buying an additional 2,822 shares during the last quarter. Covestor Ltd boosted its stake in shares of Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Freshworks by 102.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after purchasing an additional 2,223 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Freshworks during the third quarter worth $57,000. Finally, KBC Group NV lifted its stake in Freshworks by 59.1% during the fourth quarter. KBC Group NV now owns 7,604 shares of the company’s stock worth $123,000 after purchasing an additional 2,824 shares during the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Freshworks Stock Down 2.4 %

FRSH stock opened at $17.86 on Wednesday. The company has a market capitalization of $5.41 billion, a P/E ratio of -52.53 and a beta of 0.91. The company has a 50-day simple moving average of $16.94 and a 200 day simple moving average of $14.05. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $22.14.

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 8.57% and a negative net margin of 14.80%. Equities analysts anticipate that Freshworks Inc. will post -0.35 EPS for the current year.

Insider Buying and Selling

In other Freshworks news, Chairman Rathnagirish Mathrubootham sold 835,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $16.08, for a total value of $13,426,800.00. Following the sale, the chairman now directly owns 551,137 shares in the company, valued at approximately $8,862,282.96. The trade was a 60.24 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 stock was 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 owns 36,689 shares in the company, valued at approximately $614,173.86. This trade represents a 11.33 % 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 valued at $27,224,746 over the last 90 days. 19.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FRSH has been the topic of several research analyst reports. Piper Sandler raised their price objective on Freshworks from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley raised their price objective on Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Canaccord Genuity Group raised their price objective on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird reduced their price objective on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Freshworks currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.07.

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.