Freshworks Inc. (NASDAQ:FRSH – Get Free Report) Director Zachary Nelson sold 8,442 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $93,199.68. Following the sale, the director now directly owns 23,497 shares in the company, valued at $259,406.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Zachary Nelson also recently made the following trade(s):
- On Tuesday, September 3rd, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $11.54, for a total transaction of $97,316.82.
- On Friday, August 2nd, Zachary Nelson sold 8,442 shares of Freshworks stock. The shares were sold at an average price of $11.60, for a total value of $97,927.20.
Freshworks Stock Down 1.7 %
NASDAQ FRSH traded down $0.19 on Wednesday, reaching $11.01. 3,358,693 shares of the stock traded hands, compared to its average volume of 2,606,533. Freshworks Inc. has a 12 month low of $10.89 and a 12 month high of $24.98. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -27.60 and a beta of 0.73. The firm’s fifty day simple moving average is $11.65 and its 200 day simple moving average is $13.75.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on FRSH shares. Barclays cut their price target on Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. StockNews.com downgraded shares of Freshworks from a “buy” rating to a “hold” rating in a report on Saturday, June 22nd. Cantor Fitzgerald dropped their price objective on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Piper Sandler cut their price objective on shares of Freshworks from $22.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Canaccord Genuity Group decreased their target price on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.69.
Check Out Our Latest Report on Freshworks
Institutional Trading of Freshworks
A number of hedge funds and other institutional investors have recently made changes to their positions in FRSH. Capital International Investors bought a new position in shares of Freshworks in the first quarter valued at $59,311,000. Clearbridge Investments LLC increased its stake in Freshworks by 107.4% in the 1st quarter. Clearbridge Investments LLC now owns 4,050,733 shares of the company’s stock worth $73,764,000 after purchasing an additional 2,097,280 shares in the last quarter. Vanguard Group Inc. raised its holdings in Freshworks by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock worth $385,525,000 after buying an additional 1,354,530 shares during the period. Stanley Laman Group Ltd. purchased a new stake in Freshworks during the second quarter valued at about $9,133,000. Finally, Lake Street Advisors Group LLC purchased a new position in shares of Freshworks in the second quarter worth approximately $8,717,000. 75.58% of the stock is currently owned by institutional investors.
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.
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