Clear Creek Financial Management LLC Makes New Investment in Freshworks Inc. (NASDAQ:FRSH)

Clear Creek Financial Management LLC bought a new position in shares of Freshworks Inc. (NASDAQ:FRSH) in the third quarter, HoldingsChannel.com reports. The firm bought 32,400 shares of the company’s stock, valued at approximately $372,000.

A number of other hedge funds also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in Freshworks by 121.2% during the third quarter. International Assets Investment Management LLC now owns 10,056 shares of the company’s stock worth $115,000 after buying an additional 5,510 shares during the period. Tempus Wealth Planning LLC acquired a new position in shares of Freshworks during the third quarter worth $130,000. Blue Trust Inc. increased its position in shares of Freshworks by 1,987.3% during the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after purchasing an additional 2,822 shares in the last quarter. Creative Planning acquired a new position in shares of Freshworks during the third quarter worth $482,000. Finally, Sapient Capital LLC increased its position in shares of Freshworks by 42.9% during the third quarter. Sapient Capital LLC now owns 14,326 shares of the company’s stock worth $164,000 after purchasing an additional 4,303 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Stock Performance

NASDAQ:FRSH opened at $12.23 on Tuesday. Freshworks Inc. has a one year low of $10.81 and a one year high of $24.98. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of -34.43 and a beta of 0.72. The firm’s fifty day moving average is $11.41 and its two-hundred day moving average is $12.67.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.54, for a total value of $97,316.82. Following the sale, the director now directly owns 22,530 shares of the company’s stock, valued at approximately $259,996.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $11.06, for a total transaction of $51,871.40. Following the sale, the director now directly owns 36,689 shares of the company’s stock, valued at $405,780.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total transaction of $97,316.82. Following the sale, the director now directly owns 22,530 shares in the company, valued at approximately $259,996.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,023 shares of company stock valued at $427,304. 19.15% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FRSH. Piper Sandler reduced their price target on Freshworks from $17.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Barclays reduced their price target on Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group reduced their price target on Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Canaccord Genuity Group cut their target price on Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, Scotiabank cut their target price on Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.54.

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.