Nisa Investment Advisors LLC Has $37,000 Stake in Freshworks Inc. (NASDAQ:FRSH)

Nisa Investment Advisors LLC reduced its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 47.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,575 shares of the company’s stock after selling 1,400 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Freshworks were worth $37,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of FRSH. SG Americas Securities LLC grew its holdings in shares of Freshworks by 226.6% in the 3rd quarter. SG Americas Securities LLC now owns 35,651 shares of the company’s stock valued at $710,000 after buying an additional 24,735 shares during the period. Friedenthal Financial acquired a new position in Freshworks in the third quarter valued at about $721,000. Exchange Traded Concepts LLC increased its holdings in shares of Freshworks by 53.1% in the third quarter. Exchange Traded Concepts LLC now owns 41,369 shares of the company’s stock worth $824,000 after acquiring an additional 14,347 shares in the last quarter. Counterpoint Mutual Funds LLC raised its position in shares of Freshworks by 29.8% during the third quarter. Counterpoint Mutual Funds LLC now owns 6,833 shares of the company’s stock worth $136,000 after purchasing an additional 1,567 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Freshworks by 13.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,734 shares of the company’s stock valued at $572,000 after purchasing an additional 3,385 shares in the last quarter. 75.58% of the stock is owned by institutional investors.

Insider Transactions at Freshworks

In related news, Director Jennifer H. Taylor sold 7,035 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $18.08, for a total value of $127,192.80. Following the sale, the director now owns 19,991 shares in the company, valued at approximately $361,437.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Freshworks news, Director Jennifer H. Taylor sold 7,035 shares of Freshworks stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $18.08, for a total transaction of $127,192.80. Following the completion of the transaction, the director now directly owns 19,991 shares of the company’s stock, valued at $361,437.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roxanne S. Austin sold 6,303 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $21.54, for a total transaction of $135,766.62. Following the completion of the transaction, the director now directly owns 88,431 shares in the company, valued at $1,904,803.74. The disclosure for this sale can be found here. In the last three months, insiders sold 460,792 shares of company stock worth $9,408,403. 26.66% of the stock is owned by company insiders.

Freshworks Trading Up 3.2 %

NASDAQ FRSH opened at $18.16 on Tuesday. The firm’s fifty day moving average price is $18.87 and its two-hundred day moving average price is $20.06. Freshworks Inc. has a 1 year low of $12.22 and a 1 year high of $24.98. The firm has a market capitalization of $5.41 billion, a P/E ratio of -38.64 and a beta of 0.90.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. The business had revenue of $160.11 million during the quarter, compared to the consensus estimate of $158.11 million. Freshworks had a negative net margin of 23.04% and a negative return on equity of 12.55%. On average, research analysts anticipate that Freshworks Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Needham & Company LLC raised their target price on shares of Freshworks from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 28th. Morgan Stanley cut their price objective on shares of Freshworks from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price target on shares of Freshworks in a research note on Wednesday, February 7th. JMP Securities upped their price objective on Freshworks from $25.00 to $29.00 and gave the stock a “market outperform” rating in a research report on Wednesday, February 7th. Finally, Wolfe Research raised Freshworks from a “peer perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research report on Tuesday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Freshworks has an average rating of “Moderate Buy” and an average price target of $25.29.

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.