WestBridge Capital Management LLC decreased its position in shares of Freshworks Inc. (NASDAQ:FRSH – Free Report) by 10.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 7,047,091 shares of the company’s stock after selling 809,569 shares during the period. Freshworks comprises about 100.0% of WestBridge Capital Management LLC’s holdings, making the stock its largest holding. WestBridge Capital Management LLC owned about 2.70% of Freshworks worth $90,132,000 at the end of the most recent reporting period.
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Several other institutional investors have also recently made changes to their positions in the company. Abel Hall LLC boosted its position in shares of Freshworks by 8.2% during the third quarter. Abel Hall LLC now owns 11,283 shares of the company’s stock valued at $144,000 after purchasing an additional 855 shares in the last quarter. Signaturefd LLC raised its holdings in Freshworks by 8.7% in the third quarter. Signaturefd LLC now owns 11,479 shares of the company’s stock worth $147,000 after purchasing an additional 916 shares in the last quarter. Parcion Private Wealth LLC raised its holdings in Freshworks by 5.5% in the third quarter. Parcion Private Wealth LLC now owns 27,367 shares of the company’s stock worth $350,000 after purchasing an additional 1,417 shares in the last quarter. Sterling Capital Management LLC lifted its position in Freshworks by 7.5% during the third quarter. Sterling Capital Management LLC now owns 31,657 shares of the company’s stock valued at $405,000 after buying an additional 2,218 shares during the period. Finally, Provenance Wealth Advisors LLC purchased a new position in Freshworks during the third quarter valued at $28,000. Institutional investors own 75.58% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently commented on FRSH shares. KeyCorp began coverage on shares of Freshworks in a report on Monday, September 14th. They set an “overweight” rating and a $18.00 target price on the stock. Weiss Ratings upgraded shares of Freshworks from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 29th. Guggenheim started coverage on shares of Freshworks in a research report on Wednesday, July 22nd. They set a “buy” rating and a $25.00 price target for the company. Cantor Fitzgerald boosted their price objective on shares of Freshworks from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group boosted their price objective on shares of Freshworks from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.92.
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