Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor Sells 4,690 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $15.92, for a total value of $74,664.80. Following the completion of the transaction, the director now owns 37,895 shares of the company’s stock, valued at approximately $603,288.40. This trade represents a 11.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Freshworks Price Performance

Shares of FRSH opened at $15.63 on Thursday. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of -48.84 and a beta of 0.97. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77. The company has a 50-day moving average of $14.23 and a 200 day moving average of $15.69.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on FRSH shares. Robert W. Baird set a $18.00 price objective on shares of Freshworks in a research note on Wednesday, February 12th. Jefferies Financial Group lowered their target price on shares of Freshworks from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, March 31st. Piper Sandler reiterated an “overweight” rating and set a $22.00 price target (up from $20.00) on shares of Freshworks in a report on Wednesday, April 30th. Canaccord Genuity Group increased their price objective on shares of Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Oppenheimer decreased their price objective on shares of Freshworks from $24.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Freshworks currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.07.

Hedge Funds Weigh In On Freshworks

A number of large investors have recently bought and sold shares of FRSH. Rhumbline Advisers increased its holdings in shares of Freshworks by 18.1% in the 1st quarter. Rhumbline Advisers now owns 325,704 shares of the company’s stock valued at $4,596,000 after acquiring an additional 49,873 shares during the period. Strs Ohio bought a new stake in Freshworks during the first quarter valued at about $830,000. Diker Management LLC grew its stake in Freshworks by 4.3% in the first quarter. Diker Management LLC now owns 120,526 shares of the company’s stock valued at $1,701,000 after purchasing an additional 5,000 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Freshworks in the first quarter valued at about $2,734,000. Finally, Intech Investment Management LLC raised its holdings in Freshworks by 40.9% in the first quarter. Intech Investment Management LLC now owns 154,170 shares of the company’s stock worth $2,175,000 after purchasing an additional 44,761 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.

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.