Jennifer H. Taylor Sells 4,685 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.41, for a total transaction of $72,195.85. Following the completion of the transaction, the director now directly owns 37,895 shares in the company, valued at $583,961.95. This trade represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Freshworks Stock Up 2.0%

FRSH opened at $15.98 on Wednesday. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -49.94 and a beta of 0.97. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77. The company’s 50-day moving average price is $14.10 and its two-hundred day moving average price is $15.59.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FRSH has been the topic of a number of research analyst reports. Jefferies Financial Group cut their target price on shares of Freshworks from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company raised their target price on shares of Freshworks from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Wednesday, April 30th. Oppenheimer cut their target price on shares of Freshworks from $24.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Barclays raised their target price 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. Finally, JMP Securities restated a “market outperform” rating and issued a $27.00 target price on shares of Freshworks in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.21.

Institutional Trading of Freshworks

A number of institutional investors have recently modified their holdings of the business. Xponance Inc. lifted its stake in shares of Freshworks by 5.1% during the 1st quarter. Xponance Inc. now owns 15,605 shares of the company’s stock valued at $220,000 after buying an additional 758 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after buying an additional 954 shares in the last quarter. Versor Investments LP lifted its stake in shares of Freshworks by 3.0% during the 4th quarter. Versor Investments LP now owns 34,400 shares of the company’s stock valued at $556,000 after buying an additional 1,000 shares in the last quarter. Covestor Ltd lifted its stake in shares of Freshworks by 30.2% during the 4th quarter. Covestor Ltd now owns 4,686 shares of the company’s stock valued at $76,000 after buying an additional 1,087 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Freshworks by 2.2% during the 4th quarter. Arizona State Retirement System now owns 51,704 shares of the company’s stock valued at $836,000 after buying an additional 1,103 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other 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.