Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Insider Sells 2,859 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.74, for a total transaction of $47,859.66. Following the transaction, the insider now owns 615,893 shares in the company, valued at $10,310,048.82. This represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 transaction of $52,291.11.
• On Thursday, January 2nd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The stock was 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 shares were sold at an average price of $16.95, for a total value of $96,920.10.

Freshworks Stock Up 1.7 %

NASDAQ FRSH opened at $16.63 on Thursday. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The company has a market capitalization of $5.01 billion, a P/E ratio of -51.97 and a beta of 0.91. The stock’s 50-day moving average price is $17.22 and its 200-day moving average price is $14.64.

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

Analyst Ratings Changes

A number of research firms have issued reports on FRSH. StockNews.com upgraded Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley increased their price target on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Canaccord Genuity Group boosted their price objective on shares of Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. UBS Group set a $22.00 target price on shares of Freshworks in a research note on Thursday, February 6th. Finally, JMP Securities set a $27.00 price target on Freshworks in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FRSH. Avion Wealth purchased a new stake in shares of Freshworks during the 4th quarter valued at about $26,000. Covestor Ltd increased its stake in 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. Point72 Hong Kong Ltd purchased a new stake in Freshworks during the third quarter valued at approximately $57,000. Blue Trust Inc. lifted its stake in shares of Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after purchasing an additional 954 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Freshworks by 1,385.8% in the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after purchasing an additional 3,700 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors.

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.