Zachary Nelson Sells 8,433 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total value of $133,663.05. Following the transaction, the director now owns 24,187 shares of the company’s stock, valued at approximately $383,363.95. This represents a 25.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, November 4th, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $12.19, for a total transaction of $102,798.27.

Freshworks Price Performance

FRSH stock opened at $16.07 on Friday. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $23.93. The firm has a market capitalization of $4.87 billion, a PE ratio of -47.26 and a beta of 0.90. The business has a 50 day simple moving average of $15.51 and a 200-day simple moving average of $13.15.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Piper Sandler raised their target price on Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird reduced their price target on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a report on Tuesday, December 17th. Finally, Wells Fargo & Company upped their target price on Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Freshworks presently has a consensus rating of “Moderate Buy” and an average price target of $18.69.

Hedge Funds Weigh In On Freshworks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in shares of Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after acquiring an additional 2,822 shares during the last quarter. Covestor Ltd grew its holdings in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares during the period. Quarry LP increased its position in Freshworks by 157.6% during the second quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after purchasing an additional 2,645 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Freshworks during the third quarter worth about $57,000. Finally, International Assets Investment Management LLC acquired a new position in Freshworks in the 2nd quarter valued at about $58,000. 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.