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

AMG National Trust Bank acquired a new position in shares of Freshworks Inc. (NASDAQ:FRSH – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,415 shares of the company’s stock, valued at approximately $148,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ieq Capital LLC lifted its position in shares of Freshworks by 668.4% during the 3rd quarter. Ieq Capital LLC now owns 541,393 shares of the company’s stock worth $7,022,000 after buying an additional 470,934 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Freshworks by 33.1% during the 3rd quarter. Victory Capital Management Inc. now owns 63,187 shares of the company’s stock worth $820,000 after buying an additional 15,719 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Freshworks during the 3rd quarter worth $314,000. Parsons Capital Management Inc. RI bought a new position in Freshworks in the third quarter valued at about $143,000. Finally, Crestone Asset Management LLC raised its position in Freshworks by 50.6% in the third quarter. Crestone Asset Management LLC now owns 115,600 shares of the company’s stock valued at $1,499,000 after purchasing an additional 38,862 shares during the last quarter. 46.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FRSH shares. Cantor Fitzgerald started coverage on Freshworks in a research report on Tuesday. They issued an “overweight” rating and a $18.00 target price for the company. StockNews.com started coverage on Freshworks in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. Piper Sandler dropped their target price on Freshworks from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, January 9th. Wolfe Research cut Freshworks from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 21st. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $15.00 price target on shares of Freshworks in a research note on Wednesday, January 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Freshworks presently has an average rating of “Hold” and an average price target of $17.25.

Insider Activity

In other news, Director Johanna Flower sold 4,700 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $15.49, for a total value of $72,803.00. Following the transaction, the director now owns 16,852 shares in the company, valued at $261,037.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Freshworks news, Director Sameer K. Gandhi bought 295,000 shares of the stock in a transaction dated Monday, December 5th. The shares were bought at an average cost of $14.35 per share, for a total transaction of $4,233,250.00. Following the purchase, the director now directly owns 1,926,192 shares of the company’s stock, valued at approximately $27,640,855.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Johanna Flower sold 4,700 shares of Freshworks stock in a transaction on Monday, December 12th. The stock was sold at an average price of $15.49, for a total value of $72,803.00. Following the sale, the director now owns 16,852 shares in the company, valued at $261,037.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 1,010,901 shares of company stock worth $14,604,578 and have sold 110,166 shares worth $1,555,696. Corporate insiders own 29.12% of the company’s stock.

Freshworks Trading Up 0.5 %

Shares of NASDAQ:FRSH opened at $15.31 on Wednesday. The business’s 50 day simple moving average is $14.47 and its two-hundred day simple moving average is $14.08. Freshworks Inc. has a 52-week low of $10.51 and a 52-week high of $23.72.

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

About Freshworks

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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.