Jefferies Financial Group Inc. Sells 2,390 Shares of Freshworks Inc. (NASDAQ:FRSH)

Jefferies Financial Group Inc. decreased its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 1.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 132,610 shares of the company’s stock after selling 2,390 shares during the period. Jefferies Financial Group Inc.’s holdings in Freshworks were worth $2,144,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC boosted its holdings in shares of Freshworks by 33.4% during the third quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after acquiring an additional 84,568 shares during the period. Nisa Investment Advisors LLC boosted its stake in Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after purchasing an additional 2,223 shares during the period. Blue Trust Inc. boosted its position in shares of Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after acquiring an additional 954 shares during the period. KBC Group NV boosted its position in shares of Freshworks by 59.1% in the fourth quarter. KBC Group NV now owns 7,604 shares of the company’s stock valued at $123,000 after acquiring an additional 2,824 shares during the period. Finally, Smith Group Asset Management LLC bought a new stake in shares of Freshworks in the fourth quarter valued at about $589,000. Institutional investors own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Freshworks in a report on Wednesday, April 30th. Barclays boosted their price target on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald increased their target price on Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. StockNews.com raised Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, Morgan Stanley upped their price objective on shares of Freshworks from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.21.

Freshworks Stock Up 2.0%

Shares of NASDAQ:FRSH opened at $15.98 on Wednesday. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $19.77. The firm has a market cap of $4.71 billion, a P/E ratio of -49.94 and a beta of 0.97. The business has a fifty day simple moving average of $14.10 and a 200 day simple moving average of $15.59.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. The company had revenue of $196.27 million during the quarter, compared to the consensus estimate of $191.90 million. During the same period last year, the company earned $0.10 earnings per share. The firm’s revenue was up 18.9% compared to the same quarter last year. As a group, equities research analysts expect that Freshworks Inc. will post -0.19 EPS for the current year.

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, March 3rd. The stock was sold at an average price of $16.72, for a total value of $140,999.76. Following the completion of the sale, the director now directly owns 24,187 shares in the company, valued at approximately $404,406.64. The trade was a 25.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mika Yamamoto sold 3,574 shares of Freshworks stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $14.20, for a total transaction of $50,750.80. Following the completion of the sale, the insider now owns 611,604 shares of the company’s stock, valued at $8,684,776.80. This represents a 0.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,871 shares of company stock valued at $629,278 over the last quarter. Insiders own 19.15% of the company’s stock.

About Freshworks

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.