Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Insider Sells $45,286.56 in Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of Freshworks stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total transaction of $45,286.56. Following the transaction, the insider now owns 400,249 shares in the company, valued at $6,339,944.16. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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

Shares of NASDAQ:FRSH opened at $16.07 on Monday. The company’s fifty day moving average is $15.51 and its two-hundred day moving average is $13.15. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $23.93.

Institutional Trading of Freshworks

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank boosted its position in Freshworks by 29.1% during the 2nd quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock worth $90,000 after acquiring an additional 1,588 shares during the period. Covestor Ltd lifted its holdings in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares during the period. Quarry LP grew its holdings in 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. Blue Trust Inc. raised its position in Freshworks by 1,987.3% in the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after acquiring an additional 2,822 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Freshworks by 8.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,229 shares of the company’s stock valued at $462,000 after acquiring an additional 3,182 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FRSH has been the topic of a number of analyst reports. Robert W. Baird dropped their price objective on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. JMP Securities boosted their price target on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Finally, Piper Sandler raised their price objective on Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.69.

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.