In today’s briefing:
- Sequoia Capital India Acquired ~$87 Million Worth Of Freshworks Shares In March
- PolyNovo (PNV AU): Positive Momentum in U.S. Is Overshadowed by Cost Pressure and Lofty Valuation
Sequoia Capital India Acquired ~$87 Million Worth Of Freshworks Shares In March
- Sequoia Capital India, one of the key shareholders of Freshworks (FRSH US) , made notable insider purchases in March. This is the biggest insider buying since IPO in 2021.
- According to SEC filings, venture capital firm acquired ~5 million Freshworks (FRSH US) shares at an average price of $17.38 per share.
- We believe that strong insider buying may indicate a bottom in Freshworks (FRSH US) stock after significant multiple compression in the technology software sector.
PolyNovo (PNV AU): Positive Momentum in U.S. Is Overshadowed by Cost Pressure and Lofty Valuation
- PolyNovo Ltd (PNV AU) develops, manufactures, and markets artificial dermal templates. The company has only one marketed product and 88% of total revenue comes from the U.S.
- Although U.S. business is on high trajectory, the company’s drive to expand sales team and pipeline progress are putting pressure on the profitability, which do not justify the superior valuation.
- I would like to wait for PolyNovo to become profitable post its investment for growth, start offering multiple differentiated products, with sizable presence in OUS markets, to have higher conviction.
Related tickers: PolyNovo Ltd (PNV.AX)
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