Headlands Technologies LLC Takes $1.40 Million Position in Freshworks Inc. (NASDAQ:FRSH)

Headlands Technologies LLC acquired a new position in Freshworks Inc. (NASDAQ:FRSH) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 86,669 shares of the company’s stock, valued at approximately $1,401,000.

Other hedge funds also recently bought and sold shares of the company. Avion Wealth purchased a new stake in shares of Freshworks during the 4th quarter valued at about $26,000. Point72 Hong Kong Ltd purchased a new stake in Freshworks during the third quarter valued at approximately $57,000. Blue Trust Inc. boosted its stake in shares of Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after acquiring an additional 954 shares during the last quarter. National Bank of Canada FI grew its position in shares of Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after acquiring an additional 3,700 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Freshworks by 102.4% in the 4th 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. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on FRSH shares. Scotiabank upped their price target on Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Jefferies Financial Group lowered their price target on shares of Freshworks from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday. Cantor Fitzgerald lifted their target price on shares of Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Robert W. Baird set a $18.00 price target on Freshworks in a research note on Wednesday, February 12th. Finally, StockNews.com raised Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

Freshworks Price Performance

Shares of FRSH stock opened at $14.33 on Wednesday. The company has a market cap of $4.32 billion, a price-to-earnings ratio of -44.78 and a beta of 0.92. The stock’s fifty day moving average price is $16.79 and its 200 day moving average price is $15.15. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS 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%. As a group, equities research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Insider Transactions at Freshworks

In other Freshworks news, Director Johanna Flower sold 21,400 shares of Freshworks stock in a transaction dated Thursday, January 23rd. The stock was 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 owns 41,491 shares of the company’s stock, valued at approximately $746,838. The trade was a 34.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mika Yamamoto sold 2,859 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total value of $45,286.56. Following the completion of the transaction, the insider now directly owns 400,249 shares in the company, valued at $6,339,944.16. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,980 shares of company stock worth $1,084,011. Company insiders own 19.15% of the company’s stock.

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.