Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson Sells 8,433 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $14.69, for a total value of $123,880.77. Following the completion of the transaction, the director now directly owns 24,890 shares of the company’s stock, valued at approximately $365,634.10. The trade was a 25.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Zachary Nelson also recently made the following trade(s):

• On Monday, March 3rd, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $16.72, for a total transaction of $140,999.76.

Freshworks Price Performance

Freshworks stock opened at $14.50 on Tuesday. The company has a market cap of $4.37 billion, a P/E ratio of -45.31 and a beta of 0.97. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The firm’s 50 day simple moving average is $14.30 and its 200-day simple moving average is $15.48.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The firm had revenue of $196.27 million for the quarter, compared to analysts’ expectations of $191.90 million. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. On average, analysts expect that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshworks

Several hedge funds have recently bought and sold shares of FRSH. Smith Group Asset Management LLC acquired a new position in shares of Freshworks in the 4th quarter valued at about $589,000. Barclays PLC increased its stake in Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock valued at $3,875,000 after buying an additional 84,568 shares during the period. Raymond James Financial Inc. purchased a new stake in Freshworks in the 4th quarter worth approximately $20,666,000. Lisanti Capital Growth LLC acquired a new stake in shares of Freshworks during the 4th quarter valued at $2,290,000. Finally, Ceera Investments LLC grew its holdings in shares of Freshworks by 1,261.7% during the 4th quarter. Ceera Investments LLC now owns 455,420 shares of the company’s stock valued at $7,364,000 after acquiring an additional 421,975 shares in the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FRSH shares. Piper Sandler reaffirmed an “overweight” rating and issued a $22.00 price target (up from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Barclays upped their target price on Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of Freshworks in a research report on Monday, March 17th. Morgan Stanley upped their price objective on Freshworks from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, May 1st. Finally, Robert W. Baird set a $18.00 target price on Freshworks in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Freshworks currently has an average rating of “Moderate Buy” and an average target price of $20.21.

Freshworks Company 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.