Freshworks Inc. (NASDAQ:FRSH) Director Sells $78,510.60 in Stock

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $16.74, for a total transaction of $78,510.60. Following the transaction, the director now directly owns 36,689 shares in the company, valued at approximately $614,173.86. This trade represents a 11.33 % 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.

Freshworks Stock Performance

Shares of FRSH opened at $16.55 on Friday. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $24.98. The company has a market cap of $5.01 billion, a price-to-earnings ratio of -48.68 and a beta of 0.90. The firm has a fifty day moving average of $14.10 and a 200-day moving average of $12.81.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FRSH shares. Piper Sandler boosted their target price on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Freshworks in a research report on Thursday, November 7th. Robert W. Baird reduced their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.69.

Hedge Funds Weigh In On Freshworks

Several hedge funds and other institutional investors have recently modified their holdings of FRSH. M&G PLC acquired a new stake in Freshworks in the third quarter worth about $9,094,000. Stanley Laman Group Ltd. acquired a new stake in Freshworks in the second quarter worth about $9,133,000. Lake Street Advisors Group LLC acquired a new stake in Freshworks in the second quarter worth about $8,717,000. Franklin Resources Inc. lifted its holdings in Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock worth $44,934,000 after purchasing an additional 604,658 shares during the period. Finally, Invenomic Capital Management LP acquired a new stake in Freshworks in the third quarter worth about $5,260,000. Institutional investors and hedge funds 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.