Bryce Point Capital LLC Invests $571,000 in Freshworks Inc. (NASDAQ:FRSH)

Bryce Point Capital LLC acquired a new stake in shares of Freshworks Inc. (NASDAQ:FRSH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,307 shares of the company’s stock, valued at approximately $571,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new position in Freshworks in the fourth quarter valued at approximately $61,530,000. Norges Bank bought a new stake in shares of Freshworks in the 4th quarter worth approximately $57,527,000. JPMorgan Chase & Co. boosted its position in Freshworks by 49.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after purchasing an additional 1,752,995 shares during the period. Vanguard Group Inc. grew its stake in Freshworks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company’s stock worth $405,283,000 after buying an additional 1,357,526 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Freshworks in the fourth quarter worth $20,666,000. Institutional investors and hedge funds own 75.58% of the company’s stock.

Analyst Upgrades and Downgrades

FRSH has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their target price on shares of Freshworks from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Monday. Canaccord Genuity Group raised their price objective on shares of Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Oppenheimer lifted their price objective on shares of Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. UBS Group set a $22.00 target price on shares of Freshworks in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald lifted their price target on shares of Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.14.

Insider Activity at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $15.49, for a total value of $72,570.65. Following the completion of the sale, the director now directly owns 37,286 shares of the company’s stock, valued at $577,560.14. The trade was a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Johanna Flower sold 21,400 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $18.00, for a total transaction of $385,200.00. Following the transaction, the director now owns 41,491 shares in the company, valued at approximately $746,838. This trade represents a 34.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,688 shares of company stock valued at $905,061. 19.15% of the stock is owned by corporate insiders.

Freshworks Price Performance

NASDAQ FRSH opened at $14.59 on Thursday. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -45.59 and a beta of 0.92. The company has a 50 day simple moving average of $16.73 and a 200-day simple moving average of $15.15.

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

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.