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

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 3,574 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $14.20, for a total value of $50,750.80. Following the transaction, the insider now directly owns 611,604 shares in the company, valued at $8,684,776.80. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a legal filing 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 stock was 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 shares were sold at an average price of $18.29, for a total transaction of $52,291.11.

Freshworks Stock Performance

Shares of FRSH stock opened at $12.29 on Friday. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The company has a 50 day moving average price of $16.51 and a 200 day moving average price of $15.14. The stock has a market capitalization of $3.71 billion, a P/E ratio of -38.41 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last posted its quarterly 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 return on equity of 6.63% and a negative net margin of 13.24%. On average, research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on FRSH. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of Freshworks in a report on Monday, March 17th. Morgan Stanley upped their price objective on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Oppenheimer increased 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. Cantor Fitzgerald lifted their target price on Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group increased their price target on Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Freshworks currently has an average rating of “Moderate Buy” and an average price target of $21.14.

Institutional Investors Weigh In On Freshworks

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

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.