Aigen Investment Management LP Has $194,000 Stock Holdings in Freshworks Inc. (NASDAQ:FRSH)

Aigen Investment Management LP decreased its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 87.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,982 shares of the company’s stock after selling 86,246 shares during the quarter. Aigen Investment Management LP’s holdings in Freshworks were worth $194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FRSH. JPMorgan Chase & Co. boosted its position in shares of Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after acquiring an additional 1,752,995 shares during the period. Franklin Resources Inc. raised its stake in Freshworks by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock valued at $44,934,000 after purchasing an additional 604,658 shares during the last quarter. Invenomic Capital Management LP bought a new stake in Freshworks in the 3rd quarter valued at $5,260,000. Ieq Capital LLC grew its position in Freshworks by 29.3% in the 4th quarter. Ieq Capital LLC now owns 1,462,541 shares of the company’s stock worth $23,649,000 after purchasing an additional 331,298 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Freshworks by 7.1% during the 3rd quarter. State Street Corp now owns 4,729,093 shares of the company’s stock worth $54,290,000 after purchasing an additional 313,982 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Price Performance

Freshworks stock opened at $15.80 on Monday. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The stock has a fifty day moving average price of $17.23 and a two-hundred day moving average price of $14.73. The firm has a market capitalization of $4.76 billion, a P/E ratio of -49.38 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last announced its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) 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, equities research analysts predict that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Robert W. Baird set a $18.00 target price on shares of Freshworks in a research note on Wednesday, February 12th. Barclays raised their price objective on Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Piper Sandler lifted their price objective on Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Needham & Company LLC upped their target price on Freshworks from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. 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 note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Freshworks presently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

Insider Activity

In other news, Chairman Rathnagirish Mathrubootham sold 835,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $16.08, for a total transaction of $13,426,800.00. Following the sale, the chairman now owns 551,137 shares in the company, valued at approximately $8,862,282.96. This represents a 60.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.30, for a total value of $154,488.60. Following the completion of the sale, the director now owns 24,187 shares of the company’s stock, valued at approximately $442,622.10. This trade represents a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,739,953 shares of company stock worth $27,439,720. Insiders own 19.15% of the company’s stock.

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.