Freshworks Inc. (NASDAQ:FRSH) Insider Sells $47,859.66 in Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.74, for a total transaction of $47,859.66. Following the sale, the insider now directly owns 615,893 shares of the company’s stock, valued at approximately $10,310,048.82. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, February 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $18.29, for a total value of $52,291.11.
• On Thursday, January 2nd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The stock was sold at an average price of $15.84, for a total value of $45,286.56.
• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The stock was sold at an average price of $16.95, for a total transaction of $96,920.10.

Freshworks Stock Up 0.2 %

Shares of FRSH stock traded up $0.03 during trading on Tuesday, hitting $16.36. The company had a trading volume of 2,500,969 shares, compared to its average volume of 4,124,399. The stock’s 50-day moving average is $17.21 and its two-hundred day moving average is $14.60. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of -51.13 and a beta of 0.91. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77.

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

Institutional Investors Weigh In On Freshworks

A number of hedge funds have recently made changes to their positions in the business. Avion Wealth purchased a new stake in Freshworks during the fourth quarter valued at about $26,000. Covestor Ltd increased its stake in Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after purchasing an additional 1,704 shares during the period. Blue Trust Inc. lifted its position in Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after purchasing an additional 954 shares during the last quarter. National Bank of Canada FI lifted its position in Freshworks by 1,385.8% in the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Freshworks by 102.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after purchasing an additional 2,223 shares during the period. 75.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FRSH has been the subject of a number of research reports. Robert W. Baird set a $18.00 target price on shares of Freshworks in a research report on Wednesday, February 12th. UBS Group set a $22.00 target price on shares of Freshworks in a research report on Thursday, February 6th. Needham & Company LLC lifted their price objective on shares of Freshworks from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. JMP Securities set a $27.00 target price on shares of Freshworks in a report on Wednesday, February 12th. Finally, Wells Fargo & Company lowered Freshworks from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $16.00 to $13.00 in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.14.

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.