Sapient Capital LLC Invests $306,000 in Freshworks Inc. (NASDAQ:FRSH)

Sapient Capital LLC purchased a new stake in Freshworks Inc. (NASDAQ:FRSH) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,023 shares of the company’s stock, valued at approximately $306,000.

A number of other institutional investors have also recently made changes to their positions in the business. Neo Ivy Capital Management bought a new position in Freshworks during the third quarter valued at $81,000. Northside Capital Management LLC bought a new position in Freshworks during the 4th quarter valued at about $226,000. Xponance Inc. bought a new position in Freshworks during the 4th quarter valued at about $231,000. Jasper Ridge Partners L.P. purchased a new stake in Freshworks in the 3rd quarter worth about $217,000. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in Freshworks in the third quarter worth about $287,000. Institutional investors own 75.58% of the company’s stock.

Freshworks Stock Performance

Freshworks stock opened at $14.13 on Tuesday. The business has a fifty day moving average of $18.17 and a two-hundred day moving average of $19.95. Freshworks Inc. has a twelve month low of $13.01 and a twelve month high of $24.98.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Tuesday, February 6th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Freshworks had a negative return on equity of 10.66% and a negative net margin of 18.93%. The company had revenue of $160.11 million for the quarter, compared to the consensus estimate of $158.11 million. On average, equities analysts forecast that Freshworks Inc. will post -0.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FRSH shares. Robert W. Baird downgraded Freshworks from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $28.00 to $16.00 in a report on Thursday, May 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Freshworks in a research note on Thursday, May 2nd. Barclays lowered their target price on shares of Freshworks from $20.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday. Piper Sandler cut their price target on shares of Freshworks from $28.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, Oppenheimer lowered shares of Freshworks from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.59.

Insiders Place Their Bets

In other Freshworks news, Director Jennifer H. Taylor sold 7,035 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $18.08, for a total value of $127,192.80. Following the completion of the sale, the director now directly owns 19,991 shares in the company, valued at $361,437.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Freshworks news, Director Jennifer H. Taylor sold 7,035 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $18.08, for a total value of $127,192.80. Following the completion of the sale, the director now directly owns 19,991 shares in the company, valued at $361,437.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Roxanne S. Austin sold 6,303 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,904,803.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 460,792 shares of company stock worth $9,408,403. 19.15% of the stock is owned by corporate insiders.

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.