Freshworks Inc. (NASDAQ:FRSH) Director Sells $51,871.40 in Stock

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,690 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $11.06, for a total value of $51,871.40. Following the completion of the transaction, the director now owns 36,689 shares in the company, valued at $405,780.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Freshworks Stock Up 2.8 %

Shares of FRSH opened at $11.47 on Monday. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of -28.68 and a beta of 0.73. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $24.98. The stock has a 50 day moving average price of $11.39 and a 200 day moving average price of $13.35.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, July 30th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The firm had revenue of $174.13 million for the quarter, compared to the consensus estimate of $169.05 million. During the same period last year, the firm posted ($0.12) EPS. The company’s revenue was up 20.0% on a year-over-year basis. On average, equities analysts anticipate that Freshworks Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FRSH. Barclays lowered their price target on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Piper Sandler dropped their price target on shares of Freshworks from $17.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday. Cantor Fitzgerald decreased 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. Jefferies Financial Group dropped their target price on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, StockNews.com cut Freshworks from a “buy” rating to a “hold” rating in a research note on Saturday, June 22nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Freshworks currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.38.

Institutional Trading of Freshworks

A number of hedge funds and other institutional investors have recently made changes to their positions in FRSH. Vanguard Group Inc. grew its stake 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 last quarter. Clearbridge Investments LLC grew its position in shares of Freshworks by 107.4% during the first quarter. Clearbridge Investments LLC now owns 4,050,733 shares of the company’s stock worth $73,764,000 after acquiring an additional 2,097,280 shares during the last quarter. Capital International Investors purchased a new position in shares of Freshworks during the first quarter worth approximately $59,311,000. Renaissance Technologies LLC increased its holdings in shares of Freshworks by 7.6% in the 2nd quarter. Renaissance Technologies LLC now owns 3,134,600 shares of the company’s stock valued at $39,778,000 after acquiring an additional 221,900 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Freshworks by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,428,755 shares of the company’s stock worth $30,821,000 after purchasing an additional 239,671 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

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.