Freshworks Inc. (NASDAQ:FRSH) Insider Mika Yamamoto Sells 3,574 Shares

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 3,574 shares of Freshworks stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $14.20, for a total value of $50,750.80. Following the completion of the transaction, the insider now owns 611,604 shares in the company, valued at $8,684,776.80. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mika Yamamoto also recently made the following trade(s):

• On Monday, March 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $16.74, for a total value of $47,859.66.
• On Monday, February 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The stock was sold at an average price of $18.29, for a total value of $52,291.11.

Freshworks Price Performance

Shares of FRSH stock opened at $13.10 on Friday. The stock’s fifty day simple moving average is $16.63 and its 200 day simple moving average is $15.13. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -40.94 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. On average, research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FRSH. Canaccord Genuity Group boosted their target price 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. UBS Group set a $22.00 price objective on shares of Freshworks in a report on Thursday, February 6th. Barclays upped their price objective on shares of Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. JMP Securities set a $27.00 target price on Freshworks in a research report on Wednesday, February 12th. Finally, Oppenheimer raised their price objective on Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Freshworks presently has an average rating of “Moderate Buy” and a consensus target price of $21.14.

Institutional Trading of Freshworks

Large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Freshworks by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,556,772 shares of the company’s stock worth $17,872,000 after acquiring an additional 24,558 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Freshworks by 8.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,229 shares of the company’s stock worth $462,000 after purchasing an additional 3,182 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Freshworks by 1,099.9% during the third quarter. Verition Fund Management LLC now owns 211,171 shares of the company’s stock worth $2,424,000 after purchasing an additional 193,572 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Freshworks in the third quarter valued at $1,193,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Freshworks in the third quarter valued at about $57,000. 75.58% of the stock is owned by institutional investors.

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.