Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Director Sells 8,433 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.72, for a total value of $140,999.76. Following the transaction, the director now directly owns 24,187 shares of the company’s stock, valued at approximately $404,406.64. This represents a 25.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Zachary Nelson also recently made the following trade(s):

• On Monday, February 3rd, Zachary Nelson sold 8,442 shares of Freshworks stock. The stock was sold at an average price of $18.30, for a total value of $154,488.60.
• On Thursday, January 2nd, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $15.85, for a total value of $133,663.05.

Freshworks Trading Up 1.7 %

Freshworks stock opened at $16.63 on Thursday. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -51.97 and a beta of 0.91. The stock has a 50 day moving average of $17.22 and a two-hundred day moving average of $14.64.

Freshworks (NASDAQ:FRSH) last released 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 return on equity of 6.63% and a negative net margin of 13.24%. Equities analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current year.

Institutional Trading of Freshworks

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Freshworks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company’s stock valued at $405,283,000 after buying an additional 1,357,526 shares during the period. Eminence Capital LP acquired a new stake in shares of Freshworks in the 4th quarter valued at approximately $86,002,000. JPMorgan Chase & Co. lifted its holdings in shares of Freshworks by 49.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after buying an additional 1,752,995 shares during the period. State Street Corp lifted its holdings in shares of Freshworks by 7.1% in the 3rd quarter. State Street Corp now owns 4,729,093 shares of the company’s stock valued at $54,290,000 after buying an additional 313,982 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Freshworks by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,673,600 shares of the company’s stock valued at $75,588,000 after purchasing an additional 79,388 shares during the period. 75.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FRSH has been the subject of several research analyst reports. Needham & Company LLC upped their target price on shares of Freshworks from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley upped their target price on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, Oppenheimer upped their target price on Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.