GSA Capital Partners LLP Buys 46,204 Shares of Freshworks Inc. (NASDAQ:FRSH)

GSA Capital Partners LLP grew its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 89.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 97,910 shares of the company’s stock after buying an additional 46,204 shares during the period. GSA Capital Partners LLP’s holdings in Freshworks were worth $1,124,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FRSH. Vanguard Group Inc. raised its holdings in Freshworks by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock valued at $385,525,000 after acquiring an additional 1,354,530 shares in the last quarter. Sei Investments Co. increased its position in shares of Freshworks by 191.9% during the second quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock valued at $1,216,000 after purchasing an additional 63,006 shares during the period. ProShare Advisors LLC increased its position in shares of Freshworks by 8.5% during the first quarter. ProShare Advisors LLC now owns 29,127 shares of the company’s stock valued at $530,000 after purchasing an additional 2,293 shares during the period. M&G PLC acquired a new position in shares of Freshworks in the third quarter valued at $9,094,000. Finally, Marshall Wace LLP bought a new position in Freshworks in the second quarter worth $1,740,000. Institutional investors own 75.58% of the company’s stock.

Freshworks Stock Performance

Shares of FRSH stock opened at $16.32 on Friday. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $24.98. The company’s 50 day moving average price is $12.04 and its two-hundred day moving average price is $12.56. The company has a market capitalization of $4.93 billion, a P/E ratio of -48.00 and a beta of 0.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FRSH shares. Scotiabank lowered their price target on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Canaccord Genuity Group upped their target price on shares of Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Barclays lowered their price objective on Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Freshworks in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.69.

Insiders Place Their Bets

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total transaction of $52,331.45. Following the sale, the director now directly owns 35,853 shares of the company’s stock, valued at approximately $400,478.01. This represents a 11.56 % 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, Director Zachary Nelson sold 8,442 shares of Freshworks stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total transaction of $93,199.68. Following the completion of the transaction, the director now directly owns 23,497 shares of the company’s stock, valued at approximately $259,406.88. This trade represents a 26.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,463 shares of company stock valued at $406,714 in the last three months. 19.15% of the stock is currently owned by corporate insiders.

Freshworks 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.