Dynamic Technology Lab Private Ltd Boosts Stake in Freshworks Inc. (NASDAQ:FRSH)

Dynamic Technology Lab Private Ltd boosted its stake in Freshworks Inc. (NASDAQ:FRSH) by 264.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 156,450 shares of the company’s stock after purchasing an additional 113,497 shares during the period. Dynamic Technology Lab Private Ltd owned about 0.05% of Freshworks worth $1,796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Freshworks by 6.8% in the first quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock valued at $385,525,000 after buying an additional 1,354,530 shares in the last quarter. M&G PLC acquired a new position in Freshworks in the 3rd quarter valued at about $9,094,000. Stanley Laman Group Ltd. purchased a new stake in Freshworks during the second quarter worth about $9,133,000. Lake Street Advisors Group LLC purchased a new stake in Freshworks during the second quarter worth about $8,717,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Freshworks by 35.9% during the second quarter. Bank of New York Mellon Corp now owns 1,588,968 shares of the company’s stock worth $20,164,000 after purchasing an additional 420,135 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Trading Down 0.5 %

FRSH stock opened at $16.45 on Tuesday. The stock has a market cap of $4.98 billion, a P/E ratio of -48.38 and a beta of 0.72. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $24.98. The company’s 50 day moving average is $12.56 and its two-hundred day moving average is $12.52.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FRSH shares. Scotiabank cut their target price on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. Barclays cut their price objective on Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. JMP Securities increased their price objective on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Robert W. Baird lowered their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Freshworks in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.69.

Insider Activity at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $12.19, for a total value of $102,798.27. Following the completion of the transaction, the director now owns 23,497 shares in the company, valued at $286,428.43. This represents a 26.41 % 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 Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $11.06, for a total value of $51,871.40. Following the sale, the director now owns 36,689 shares in the company, valued at $405,780.34. This trade represents a 11.33 % 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 ninety days. Insiders own 19.15% of the company’s stock.

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.