Aigen Investment Management LP Sells 31,970 Shares of Freshworks Inc. (NASDAQ:FRSH)

Aigen Investment Management LP trimmed its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 24.6% in the third quarter, HoldingsChannel reports. The firm owned 98,228 shares of the company’s stock after selling 31,970 shares during the quarter. Aigen Investment Management LP’s holdings in Freshworks were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FRSH. Capital International Investors acquired a new position in Freshworks in the 1st quarter valued at about $59,311,000. Clearbridge Investments LLC lifted its holdings in Freshworks by 107.4% during the 1st quarter. Clearbridge Investments LLC now owns 4,050,733 shares of the company’s stock worth $73,764,000 after purchasing an additional 2,097,280 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 purchasing an additional 1,354,530 shares during the period. M&G PLC acquired a new position in Freshworks in the 3rd quarter valued at $9,094,000. Finally, Stanley Laman Group Ltd. bought a new position in Freshworks during the 2nd quarter worth $9,133,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Freshworks Trading Down 0.1 %

Freshworks stock opened at $16.50 on Wednesday. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $24.98. The business’s 50-day moving average price is $11.84 and its two-hundred day moving average price is $12.50.

Insider Activity

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.54, for a total transaction of $97,316.82. Following the sale, the director now owns 22,530 shares of the company’s stock, valued at approximately $259,996.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total transaction of $97,316.82. Following the sale, the director now directly owns 22,530 shares in the company, valued at approximately $259,996.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jennifer H. Taylor sold 4,690 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $11.06, for a total transaction of $51,871.40. Following the completion of the transaction, the director now owns 36,689 shares of the company’s stock, valued at approximately $405,780.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,463 shares of company stock worth $406,714. Corporate insiders own 19.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Scotiabank decreased their price target 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. JPMorgan Chase & Co. increased their target price on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research report on Thursday, November 7th. Barclays reduced their price target 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. Finally, Robert W. Baird dropped their price objective on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

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.