Quadrature Capital Ltd Sells 127,605 Shares of Freshworks Inc. (NASDAQ:FRSH)

Quadrature Capital Ltd decreased its position in Freshworks Inc. (NASDAQ:FRSH) by 64.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,142 shares of the company’s stock after selling 127,605 shares during the period. Quadrature Capital Ltd’s holdings in Freshworks were worth $817,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FRSH. Blue Trust Inc. grew its stake in Freshworks by 1,987.3% in the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after acquiring an additional 2,822 shares during the period. Covestor Ltd grew its position in shares of Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares during the period. CWM LLC increased its stake in Freshworks by 554.5% during the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after purchasing an additional 2,878 shares in the last quarter. Quarry LP raised its holdings in Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after buying an additional 2,645 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Freshworks in the third quarter valued at approximately $57,000. Institutional investors own 75.58% of the company’s stock.

Insider Activity at Freshworks

In related news, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $11.06, for a total value of $51,871.40. Following the sale, the director now directly owns 36,689 shares in the company, valued at approximately $405,780.34. The trade was a 11.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Zachary Nelson sold 8,442 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $93,199.68. Following the transaction, the director now owns 23,497 shares of the company’s stock, valued at $259,406.88. This represents a 26.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,250 shares of company stock worth $300,201. Insiders own 19.15% of the company’s stock.

Freshworks Trading Up 3.2 %

NASDAQ:FRSH opened at $16.61 on Friday. The firm has a fifty day simple moving average of $13.55 and a 200 day simple moving average of $12.69. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $24.98. The stock has a market capitalization of $5.03 billion, a PE ratio of -48.85 and a beta of 0.90.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Piper Sandler increased their target price on Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a report on Thursday, November 7th. Wells Fargo & Company increased their price objective on Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Finally, JMP Securities boosted their target price on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.69.

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.