Ceera Investments LLC Has $8.15 Million Stock Position in Freshworks Inc. $FRSH

Ceera Investments LLC grew its stake in Freshworks Inc. (NASDAQ:FRSH) by 20.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 546,739 shares of the company’s stock after purchasing an additional 91,344 shares during the quarter. Freshworks comprises about 2.5% of Ceera Investments LLC’s holdings, making the stock its 7th biggest holding. Ceera Investments LLC owned about 0.19% of Freshworks worth $8,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FRSH. Strs Ohio grew its position in Freshworks by 18.0% during the 2nd quarter. Strs Ohio now owns 69,400 shares of the company’s stock valued at $1,035,000 after purchasing an additional 10,600 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Freshworks during the 2nd quarter worth approximately $1,014,000. Envestnet Asset Management Inc. raised its stake in Freshworks by 34.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 110,654 shares of the company’s stock worth $1,650,000 after acquiring an additional 28,152 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Freshworks by 55.1% during the second quarter. Nisa Investment Advisors LLC now owns 6,064 shares of the company’s stock valued at $90,000 after buying an additional 2,155 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Freshworks by 14.5% during the second quarter. State of New Jersey Common Pension Fund D now owns 128,738 shares of the company’s stock valued at $1,919,000 after buying an additional 16,266 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors.

Freshworks Stock Performance

NASDAQ FRSH opened at $11.10 on Monday. The business has a fifty day moving average price of $12.15 and a 200 day moving average price of $13.59. Freshworks Inc. has a one year low of $10.76 and a one year high of $19.77. The company has a market cap of $3.23 billion, a P/E ratio of -61.66 and a beta of 0.90.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Thursday, September 11th. The company reported $0.18 earnings per share (EPS) for the quarter. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The business had revenue of $204.68 million during the quarter. As a group, sell-side analysts predict that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Insider Transactions at Freshworks

In other news, CAO Philippa Lawrence sold 2,590 shares of Freshworks stock in a transaction on Monday, September 15th. The stock was sold at an average price of $12.53, for a total transaction of $32,452.70. Following the completion of the transaction, the chief accounting officer owned 415,949 shares of the company’s stock, valued at $5,211,840.97. The trade was a 0.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $12.96, for a total value of $60,717.60. Following the transaction, the director directly owned 44,218 shares of the company’s stock, valued at $573,065.28. This trade represents a 9.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,608 shares of company stock worth $369,163 in the last three months. Corporate insiders own 11.17% of the company’s stock.

Analyst Ratings Changes

FRSH has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of Freshworks in a research report on Friday, September 12th. Morgan Stanley lowered their target price on shares of Freshworks from $18.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, September 12th. Piper Sandler lifted their price objective on Freshworks from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Freshworks in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Freshworks from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.07.

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.