Jennifer H. Taylor Sells 4,690 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $11.06, for a total transaction of $51,871.40. Following the completion of the sale, the director now owns 36,689 shares of the company’s stock, valued at approximately $405,780.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Freshworks Trading Up 2.8 %

Freshworks stock traded up $0.31 during trading on Friday, hitting $11.47. The company had a trading volume of 2,540,656 shares, compared to its average volume of 2,597,621. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -27.90 and a beta of 0.73. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $24.98. The company’s 50 day simple moving average is $11.39 and its 200-day simple moving average is $13.46.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $174.13 million during the quarter, compared to analysts’ expectations of $169.05 million. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The company’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) earnings per share. As a group, analysts forecast that Freshworks Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Freshworks

A number of institutional investors and hedge funds have recently bought and sold shares of FRSH. CWM LLC grew its holdings in shares of Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after purchasing an additional 2,878 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after acquiring an additional 757 shares in the last quarter. Quarry LP increased its position in shares of Freshworks by 157.6% during the second quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $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 in the second quarter valued at $58,000. Finally, EntryPoint Capital LLC purchased a new position in Freshworks in the first quarter valued at $82,000. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FRSH. Piper Sandler cut their price target on Freshworks from $17.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday. Barclays cut their target price on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Canaccord Genuity Group reduced their price target on Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a report on Wednesday, July 31st. Finally, StockNews.com cut shares of Freshworks from a “buy” rating to a “hold” rating in a research report on Saturday, June 22nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Freshworks has an average rating of “Moderate Buy” and an average target price of $18.38.

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.