Ceera Investments LLC Boosts Position in Freshworks Inc. (NASDAQ:FRSH)

Ceera Investments LLC raised its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 1,261.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 455,420 shares of the company’s stock after acquiring an additional 421,975 shares during the quarter. Freshworks makes up 2.5% of Ceera Investments LLC’s portfolio, making the stock its 9th biggest position. Ceera Investments LLC owned 0.15% of Freshworks worth $7,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in FRSH. Avion Wealth acquired a new stake in shares of Freshworks during the fourth quarter worth $26,000. Covestor Ltd raised its holdings in shares of Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after purchasing an additional 1,704 shares during the period. Blue Trust Inc. raised its holdings in shares of Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after purchasing an additional 954 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of 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 period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Freshworks during the third quarter worth $57,000. 75.58% of the stock is currently owned by institutional investors.

Insider Activity

In other Freshworks news, insider Mika Yamamoto sold 5,718 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $16.95, for a total value of $96,920.10. Following the completion of the transaction, the insider now directly owns 403,108 shares in the company, valued at $6,832,680.60. This trade represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Johanna Flower sold 1,450 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $18.01, for a total transaction of $26,114.50. Following the completion of the transaction, the director now owns 41,491 shares of the company’s stock, valued at approximately $747,252.91. The trade was a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,739,953 shares of company stock worth $27,439,720. Corporate insiders own 19.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FRSH shares. Morgan Stanley increased their target price on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Barclays increased their price objective on shares of Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Canaccord Genuity Group increased their price objective on shares of Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald increased their price objective on shares of Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Needham & Company LLC increased their price objective on shares of Freshworks from $20.00 to $25.00 and gave the stock a “buy” rating in a report 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 given a buy rating to the stock. According to MarketBeat, Freshworks has an average rating of “Moderate Buy” and a consensus target price of $21.14.

Freshworks Trading Down 0.9 %

NASDAQ:FRSH opened at $15.80 on Friday. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77. The company has a 50-day moving average of $17.23 and a 200-day moving average of $14.71. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of -49.38 and a beta of 0.92.

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 net margin of 13.24% and a negative return on equity of 6.63%. On average, research analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current year.

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.