Freshworks Inc. (NASDAQ:FRSH) Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC lessened its position in Freshworks Inc. (NASDAQ:FRSH) by 60.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,558,034 shares of the company’s stock after selling 3,941,694 shares during the period. Champlain Investment Partners LLC owned approximately 0.85% of Freshworks worth $29,366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in FRSH. Charles Schwab Investment Management Inc. raised its holdings in Freshworks by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,556,772 shares of the company’s stock worth $17,872,000 after purchasing an additional 24,558 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Freshworks during the 3rd quarter worth approximately $867,000. AlpInvest Partners B.V. acquired a new stake in shares of Freshworks in the 3rd quarter valued at approximately $803,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Freshworks by 806.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock valued at $2,699,000 after buying an additional 209,194 shares in the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new position in Freshworks during the third quarter worth $170,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Insider Activity at Freshworks

In other news, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.17, for a total value of $52,331.45. Following the completion of the sale, the director now owns 35,853 shares of the company’s stock, valued at $400,478.01. The trade was a 11.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total value of $93,199.68. Following the completion of the transaction, the director now owns 23,497 shares of the company’s stock, valued at $259,406.88. The trade was a 26.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,463 shares of company stock valued at $406,714. Company insiders own 19.15% of the company’s stock.

Wall Street Analyst Weigh In

FRSH has been the subject of a number of recent analyst reports. Piper Sandler raised their target price on Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JMP Securities increased their target price on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Cantor Fitzgerald decreased their price target on Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group dropped their price objective on Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.69.

Freshworks Price Performance

FRSH opened at $16.54 on Friday. The firm has a market cap of $5.01 billion, a P/E ratio of -48.65 and a beta of 0.72. The business’s fifty day simple moving average is $12.56 and its 200 day simple moving average is $12.54. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $24.98.

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.