Freshworks Inc. (NASDAQ:FRSH) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC decreased its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 481,115 shares of the company’s stock after selling 7,137 shares during the quarter. CIBC Private Wealth Group LLC owned 0.16% of Freshworks worth $7,770,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Freshworks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company’s stock worth $405,283,000 after buying an additional 1,357,526 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Freshworks by 49.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock worth $60,503,000 after acquiring an additional 1,752,995 shares in the last quarter. State Street Corp boosted its stake in shares of Freshworks by 7.1% during the 3rd quarter. State Street Corp now owns 4,729,093 shares of the company’s stock worth $54,290,000 after acquiring an additional 313,982 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Freshworks by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock valued at $52,750,000 after acquiring an additional 66,342 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Freshworks by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock valued at $44,934,000 after purchasing an additional 604,658 shares in the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of Freshworks in a research report on Monday, March 17th. JMP Securities set a $27.00 price target on shares of Freshworks in a research note on Wednesday, February 12th. Robert W. Baird set a $18.00 price objective on shares of Freshworks in a research report on Wednesday, February 12th. Jefferies Financial Group dropped their target price on shares of Freshworks from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Morgan Stanley upped their price target on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

Insider Buying and Selling at Freshworks

In other news, Director Zachary Nelson sold 8,442 shares of Freshworks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $18.30, for a total transaction of $154,488.60. Following the sale, the director now owns 24,187 shares of the company’s stock, valued at approximately $442,622.10. The trade was a 25.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $15.49, for a total value of $72,570.65. Following the completion of the transaction, the director now owns 37,286 shares of the company’s stock, valued at $577,560.14. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,980 shares of company stock worth $1,084,011 in the last ninety days. 19.15% of the stock is owned by insiders.

Freshworks Stock Performance

Shares of Freshworks stock opened at $14.33 on Wednesday. The business’s 50 day moving average price is $16.79 and its 200 day moving average price is $15.15. The company has a market cap of $4.32 billion, a price-to-earnings ratio of -44.78 and a beta of 0.92. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results 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, analysts predict that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Freshworks 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.