Olympiad Research LP Has $419,000 Holdings in Freshworks Inc. (NASDAQ:FRSH)

Olympiad Research LP cut its holdings in Freshworks Inc. (NASDAQ:FRSH) by 38.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,920 shares of the company’s stock after selling 15,935 shares during the quarter. Olympiad Research LP’s holdings in Freshworks were worth $419,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Avion Wealth acquired a new stake in shares of Freshworks during the fourth quarter valued at about $26,000. Blue Trust Inc. boosted its stake in shares of Freshworks by 1,987.3% during the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after purchasing an additional 2,822 shares in the last quarter. Covestor Ltd boosted its stake in shares of Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Freshworks during the third quarter valued at about $57,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Freshworks by 102.4% during the fourth 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 in the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FRSH shares. Canaccord Genuity Group lifted their price target on Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Needham & Company LLC lifted their price target on Freshworks from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley lifted their price target on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. lifted their price target on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Piper Sandler lifted their price objective on Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Freshworks has a consensus rating of “Moderate Buy” and a consensus price target of $20.62.

Insiders Place Their Bets

In other news, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $16.74, for a total transaction of $78,510.60. Following the completion of the sale, the director now owns 36,689 shares in the company, valued at $614,173.86. The trade was a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mika Yamamoto sold 5,718 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $16.95, for a total value of $96,920.10. Following the sale, the insider now owns 403,108 shares of the company’s stock, valued at approximately $6,832,680.60. This represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,727,211 shares of company stock worth $27,224,746. 19.15% of the stock is owned by corporate insiders.

Freshworks Stock Performance

Shares of FRSH stock opened at $17.31 on Friday. The company has a market cap of $5.24 billion, a P/E ratio of -54.09 and a beta of 0.91. The stock has a 50 day simple moving average of $17.08 and a two-hundred day simple moving average of $14.34. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $20.91.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. On average, research analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current year.

Freshworks Company 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.