Barry L. Padgett Sells 780 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett sold 780 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $14.09, for a total transaction of $10,990.20. Following the completion of the sale, the director now owns 26,957 shares of the company’s stock, valued at approximately $379,824.13. The trade was a 2.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Freshworks Price Performance

NASDAQ FRSH opened at $14.59 on Thursday. The company has a market cap of $4.40 billion, a P/E ratio of -45.59 and a beta of 0.92. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77. The stock has a 50-day moving average of $16.73 and a two-hundred day moving average of $15.15.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Institutional Trading of Freshworks

Large investors have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after purchasing an additional 954 shares in the last quarter. Versor Investments LP grew its position in shares of Freshworks by 3.0% during the fourth quarter. Versor Investments LP now owns 34,400 shares of the company’s stock worth $556,000 after buying an additional 1,000 shares in the last quarter. Covestor Ltd increased its stake in shares of Freshworks by 30.2% during the fourth quarter. Covestor Ltd now owns 4,686 shares of the company’s stock worth $76,000 after buying an additional 1,087 shares during the period. Arizona State Retirement System raised its holdings in Freshworks by 2.2% in the fourth quarter. Arizona State Retirement System now owns 51,704 shares of the company’s stock valued at $836,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Xponance Inc. raised its holdings in Freshworks by 10.2% in the fourth quarter. Xponance Inc. now owns 14,847 shares of the company’s stock valued at $240,000 after acquiring an additional 1,369 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. JMP Securities set a $27.00 target price on Freshworks in a research note on Wednesday, February 12th. UBS Group set a $22.00 target price on shares of Freshworks in a research note on Thursday, February 6th. Barclays raised their price target on shares of Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Morgan Stanley lifted their price target on shares of Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, Canaccord Genuity Group increased their price objective on Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

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.