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

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 3,574 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $14.20, for a total value of $50,750.80. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

Freshworks Price Performance

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

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (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%. As a group, sell-side analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

Hedge Funds Weigh In On Freshworks

A number of hedge funds have recently added to or reduced their stakes in FRSH. Smith Group Asset Management LLC bought a new stake in shares of Freshworks in the 4th quarter worth $589,000. Barclays PLC increased its holdings in Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after buying an additional 84,568 shares in the last quarter. Edgestream Partners L.P. bought a new position in Freshworks during the 3rd quarter valued at about $1,193,000. Raymond James Financial Inc. purchased a new stake in shares of Freshworks during the 4th quarter valued at about $20,666,000. Finally, Geode Capital Management LLC grew its stake in shares of Freshworks by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock worth $52,750,000 after acquiring an additional 66,342 shares during the period. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays upped their price objective on shares of Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Scotiabank increased their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald lifted their price objective on Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Robert W. Baird set a $18.00 target price on Freshworks in a research report on Wednesday, February 12th. Finally, Piper Sandler lifted their price target on Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Freshworks has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

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.