Freshworks Inc. (NASDAQ:FRSH) Shares Sold by WestBridge Capital Management LLC

WestBridge Capital Management LLC decreased its position in Freshworks Inc. (NASDAQ:FRSH) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,379,260 shares of the company’s stock after selling 275,000 shares during the period. Freshworks makes up approximately 100.0% of WestBridge Capital Management LLC’s holdings, making the stock its biggest position. WestBridge Capital Management LLC’s holdings in Freshworks were worth $153,594,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. grew its position in Freshworks by 1,987.3% in 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 in the last quarter. Covestor Ltd boosted its holdings in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after acquiring an additional 1,704 shares in the last quarter. CWM LLC increased its stake in shares of Freshworks by 554.5% during the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after acquiring an additional 2,878 shares during the period. Advisors Asset Management Inc. raised its holdings in Freshworks by 34.2% during the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after purchasing an additional 757 shares in the last quarter. Finally, Quarry LP lifted its position in Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after purchasing an additional 2,645 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Stock Up 1.9 %

Shares of NASDAQ:FRSH opened at $15.28 on Thursday. The business has a 50-day moving average of $12.35 and a two-hundred day moving average of $12.49. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $24.98.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FRSH shares. Barclays dropped their price objective on Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Canaccord Genuity Group upped their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Robert W. Baird cut their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Freshworks has an average rating of “Moderate Buy” and a consensus target price of $18.69.

Insider Buying and Selling

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $12.19, for a total value of $102,798.27. Following the transaction, the director now directly owns 23,497 shares of the company’s stock, valued at $286,428.43. The trade was a 26.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $11.06, for a total transaction of $51,871.40. Following the transaction, the director now directly owns 36,689 shares in the company, valued at $405,780.34. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,463 shares of company stock worth $406,714. 19.15% of the stock is currently owned by insiders.

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.