Twin Tree Management LP Invests $3.55 Million in Freshworks Inc. (NASDAQ:FRSH)

Twin Tree Management LP bought a new position in Freshworks Inc. (NASDAQ:FRSH) in the 4th quarter, HoldingsChannel.com reports. The firm bought 219,262 shares of the company’s stock, valued at approximately $3,545,000.

Several other institutional investors have also recently made changes to their positions in FRSH. Swiss National Bank boosted its holdings in shares of Freshworks by 2.1% in the 4th quarter. Swiss National Bank now owns 350,500 shares of the company’s stock worth $5,668,000 after buying an additional 7,300 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Freshworks by 229.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 775,036 shares of the company’s stock worth $12,532,000 after buying an additional 539,890 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Freshworks in the 4th quarter worth about $1,343,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Freshworks by 21.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,056 shares of the company’s stock worth $793,000 after buying an additional 8,827 shares during the last quarter. Finally, Ceera Investments LLC boosted its holdings in shares of Freshworks by 1,261.7% in the 4th quarter. Ceera Investments LLC now owns 455,420 shares of the company’s stock worth $7,364,000 after buying an additional 421,975 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Insider Buying and Selling

In related news, Director Johanna Flower sold 1,450 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $18.01, for a total value of $26,114.50. Following the transaction, the director now directly owns 41,491 shares in the company, valued at approximately $747,252.91. This represents a 3.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mika Yamamoto sold 2,859 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total transaction of $45,286.56. Following the transaction, the insider now owns 400,249 shares in the company, valued at $6,339,944.16. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 892,200 shares of company stock worth $13,796,921. Insiders own 19.15% of the company’s stock.

Freshworks Trading Down 0.2 %

Shares of Freshworks stock opened at $15.19 on Wednesday. The company’s 50-day moving average price is $17.06 and its 200-day moving average price is $14.88. The company has a market cap of $4.58 billion, a price-to-earnings ratio of -47.47 and a beta of 0.92. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $19.77.

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 6.63% and a negative net margin of 13.24%. On average, sell-side analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

FRSH has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on shares of Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Oppenheimer upped their price objective on shares of Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. UBS Group set a $22.00 price objective on shares of Freshworks in a report on Thursday, February 6th. Cantor Fitzgerald upped their price objective on shares of Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Scotiabank upped their price objective on shares of Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

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.