Freshworks Inc. (NASDAQ:FRSH) Insider Sells $50,750.80 in Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 3,574 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $14.20, for a total value of $50,750.80. Following the sale, the insider now owns 611,604 shares in the company, valued at approximately $8,684,776.80. This represents a 0.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, March 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $16.74, for a total value of $47,859.66.
• On Monday, February 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The stock was sold at an average price of $18.29, for a total value of $52,291.11.

Freshworks Trading Down 6.2 %

Shares of NASDAQ FRSH opened at $12.29 on Friday. The stock’s 50-day moving average is $16.51 and its 200 day moving average is $15.17. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -38.41 and a beta of 0.98. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. On average, analysts forecast that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Institutional Trading of Freshworks

Hedge funds have recently added to or reduced their stakes in the business. Eminence Capital LP purchased a new position in shares of Freshworks in the fourth quarter worth about $86,002,000. Arrowstreet Capital Limited Partnership bought a new position in Freshworks during the 4th quarter worth approximately $61,530,000. Norges Bank purchased a new position in Freshworks in the 4th quarter worth approximately $57,527,000. Fuller & Thaler Asset Management Inc. bought a new stake in Freshworks in the fourth quarter valued at approximately $49,946,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Freshworks by 49.8% during the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after purchasing an additional 1,752,995 shares during the period. 75.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FRSH shares. JMP Securities set a $27.00 price objective on shares of Freshworks in a research report on Wednesday, February 12th. Barclays raised their price target on shares of Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Morgan Stanley upped their price target on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Robert W. Baird set a $18.00 price objective on Freshworks in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group upped their target price on Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.14.

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.