Mika Yamamoto Sells 2,859 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $18.29, for a total value of $52,291.11. Following the completion of the sale, the insider now owns 397,390 shares of the company’s stock, valued at approximately $7,268,263.10. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mika Yamamoto also recently made the following trade(s):

• On Thursday, January 2nd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $15.84, for a total value of $45,286.56.
• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The stock was sold at an average price of $16.95, for a total value of $96,920.10.

Freshworks Price Performance

NASDAQ:FRSH opened at $18.36 on Friday. Freshworks Inc. has a one year low of $10.81 and a one year high of $22.78. The company has a market cap of $5.56 billion, a PE ratio of -54.00 and a beta of 0.91. The firm’s 50 day simple moving average is $16.82 and its 200 day simple moving average is $13.94.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FRSH. Oppenheimer raised shares of Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Thursday, January 16th. Canaccord Genuity Group upped their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Morgan Stanley raised their price objective on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Robert W. Baird lowered their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.07.

Hedge Funds Weigh In On Freshworks

Several large investors have recently modified their holdings of FRSH. Blue Trust Inc. grew its stake in shares of Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after purchasing an additional 954 shares during the last quarter. Versor Investments LP grew its position in shares of Freshworks by 3.0% in the 4th quarter. Versor Investments LP now owns 34,400 shares of the company’s stock valued at $556,000 after buying an additional 1,000 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Freshworks by 2.2% in the fourth quarter. Arizona State Retirement System now owns 51,704 shares of the company’s stock valued at $836,000 after buying an additional 1,103 shares during the period. Avion Wealth bought a new position in shares of Freshworks during the fourth quarter worth about $26,000. Finally, Covestor Ltd raised its position in shares of Freshworks by 89.9% during 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. Institutional investors 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.