11,415 Shares in Freshworks Inc. (NASDAQ:FRSH) Acquired by AMG National Trust Bank

AMG National Trust Bank bought a new position in Freshworks Inc. (NASDAQ:FRSHGet Rating) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,415 shares of the company’s stock, valued at approximately $148,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FRSH. Bank of New York Mellon Corp lifted its position in Freshworks by 3,770.9% in the first quarter. Bank of New York Mellon Corp now owns 597,595 shares of the company’s stock valued at $10,709,000 after purchasing an additional 582,157 shares during the last quarter. US Bancorp DE lifted its position in Freshworks by 1,141.4% in the first quarter. US Bancorp DE now owns 8,044 shares of the company’s stock valued at $144,000 after purchasing an additional 7,396 shares during the last quarter. Citigroup Inc. bought a new stake in Freshworks in the first quarter valued at approximately $255,000. Cibc World Market Inc. bought a new stake in Freshworks in the first quarter valued at approximately $887,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Freshworks during the first quarter valued at approximately $267,000. Institutional investors own 46.36% of the company’s stock.

Freshworks Price Performance

NASDAQ FRSH opened at $15.31 on Wednesday. Freshworks Inc. has a 12 month low of $10.51 and a 12 month high of $23.72. The stock’s fifty day moving average price is $14.47 and its 200-day moving average price is $14.08.

Freshworks (NASDAQ:FRSHGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.19). The firm had revenue of $128.76 million for the quarter, compared to the consensus estimate of $125.07 million. Freshworks had a negative return on equity of 20.74% and a negative net margin of 53.45%. On average, equities research analysts forecast that Freshworks Inc. will post -0.8 earnings per share for the current year.

Insider Activity

In other Freshworks news, Director Barry L. Padgett sold 32,809 shares of the stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $12.50, for a total value of $410,112.50. Following the transaction, the director now owns 16,428 shares of the company’s stock, valued at $205,350. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Freshworks news, Director Barry L. Padgett sold 32,809 shares of the stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $12.50, for a total value of $410,112.50. Following the transaction, the director now owns 16,428 shares of the company’s stock, valued at $205,350. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Zachary Nelson sold 21,090 shares of the stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $15.06, for a total value of $317,615.40. Following the completion of the transaction, the director now directly owns 17,222 shares in the company, valued at approximately $259,363.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,010,901 shares of company stock valued at $14,604,578 and have sold 110,166 shares valued at $1,555,696. Corporate insiders own 29.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FRSH. StockNews.com began coverage on Freshworks in a report on Wednesday, October 12th. They set a “sell” rating for the company. Jefferies Financial Group decreased their target price on Freshworks from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, October 31st. Morgan Stanley decreased their target price on Freshworks from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. Piper Sandler reduced their price target on Freshworks from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, January 9th. Finally, Wolfe Research cut Freshworks from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Freshworks currently has a consensus rating of “Hold” and a consensus price target of $17.25.

Freshworks Profile

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Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. Freshworks Inc was formerly known as Freshdesk Inc and changed its name to Freshworks Inc in June 2017. The company was incorporated in 2010 and is headquartered in San Mateo, California.

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Institutional Ownership by Quarter for Freshworks (NASDAQ:FRSH)

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