Freshworks Inc. (NASDAQ:FRSH) Chairman Rathnagirish Mathrubootham Sells 830,000 Shares

Freshworks Inc. (NASDAQ:FRSH) Chairman Rathnagirish Mathrubootham sold 830,000 shares of Freshworks stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.33, for a total transaction of $12,723,900.00. Following the transaction, the chairman now directly owns 551,137 shares in the company, valued at approximately $8,448,930.21. This trade represents a 60.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rathnagirish Mathrubootham also recently made the following trade(s):

• On Wednesday, December 18th, Rathnagirish Mathrubootham sold 835,000 shares of Freshworks stock. The shares were sold at an average price of $16.08, for a total transaction of $13,426,800.00.

Freshworks Trading Down 0.5 %

Shares of NASDAQ FRSH opened at $15.33 on Monday. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of -45.09 and a beta of 0.90. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $24.34. The business has a 50 day simple moving average of $14.59 and a 200-day simple moving average of $12.91.

Institutional Trading of Freshworks

Several institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings 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 valued at $38,000 after buying an additional 2,822 shares during the period. Covestor Ltd lifted its holdings in Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares during the last quarter. Quarry LP boosted its stake in Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after acquiring an additional 2,645 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Freshworks during the 2nd quarter worth approximately $58,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Freshworks in the 3rd quarter worth approximately $57,000. Institutional investors own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

FRSH has been the topic of several research reports. Piper Sandler raised their price objective on Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a report on Tuesday, December 17th. JPMorgan Chase & Co. lifted their price objective on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Canaccord Genuity Group raised their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Robert W. Baird dropped their price target on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Freshworks has a consensus rating of “Moderate Buy” and an average target price of $18.69.

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.