Freshworks Inc. $FRSH Shares Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its position in Freshworks Inc. (NASDAQ:FRSH) by 44.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,470 shares of the company’s stock after buying an additional 111,970 shares during the quarter. Hillsdale Investment Management Inc. owned 0.13% of Freshworks worth $5,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in Freshworks by 34.1% in the second quarter. Envestnet Asset Management Inc. now owns 110,654 shares of the company’s stock valued at $1,650,000 after purchasing an additional 28,152 shares during the period. Inlight Wealth Management LLC purchased a new stake in Freshworks during the 2nd quarter worth about $1,773,000. Pier 88 Investment Partners LLC raised its position in Freshworks by 68.6% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 80,680 shares of the company’s stock valued at $1,203,000 after purchasing an additional 32,830 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in shares of Freshworks in the 2nd quarter valued at about $1,080,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Freshworks by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,642,290 shares of the company’s stock valued at $23,173,000 after buying an additional 32,333 shares during the period. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FRSH shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of Freshworks in a report on Friday, September 12th. UBS Group reissued a “buy” rating and issued a $17.00 price objective on shares of Freshworks in a research report on Friday, November 14th. Wall Street Zen upgraded shares of Freshworks from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Canaccord Genuity Group decreased their price objective on shares of Freshworks from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Freshworks in a report on Friday, September 12th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.23.

Insider Buying and Selling at Freshworks

In other news, Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $12.96, for a total value of $60,717.60. Following the completion of the sale, the director directly owned 44,218 shares of the company’s stock, valued at approximately $573,065.28. The trade was a 9.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Philippa Lawrence sold 2,590 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $12.53, for a total value of $32,452.70. Following the completion of the sale, the chief accounting officer directly owned 415,949 shares of the company’s stock, valued at approximately $5,211,840.97. This trade represents a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 23,782 shares of company stock valued at $307,963. 11.17% of the stock is owned by insiders.

Freshworks Trading Up 1.7%

Shares of NASDAQ:FRSH opened at $11.85 on Friday. The firm has a 50 day simple moving average of $11.65 and a 200-day simple moving average of $13.37. Freshworks Inc. has a twelve month low of $10.51 and a twelve month high of $19.77. The company has a market capitalization of $3.34 billion, a PE ratio of -118.49 and a beta of 0.90.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Thursday, September 11th. The company reported $0.18 EPS for the quarter. Freshworks had a negative net margin of 3.65% and a negative return on equity of 0.37%. The firm had revenue of $204.68 million for the quarter. As a group, equities research analysts predict that Freshworks Inc. will post -0.19 EPS for the current fiscal 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.