Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Director Sells $385,200.00 in Stock

Freshworks Inc. (NASDAQ:FRSH) Director Johanna Flower sold 21,400 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $18.00, for a total value of $385,200.00. Following the completion of the transaction, the director now directly owns 41,491 shares in the company, valued at approximately $746,838. The trade was a 34.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Freshworks Trading Down 2.3 %

Shares of Freshworks stock opened at $19.30 on Thursday. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $23.29. The company’s fifty day simple moving average is $16.55 and its 200-day simple moving average is $13.73. The company has a market cap of $5.85 billion, a price-to-earnings ratio of -56.76 and a beta of 0.88.

Analyst Upgrades and Downgrades

FRSH has been the topic of a number of research reports. Canaccord Genuity Group increased their price objective on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. 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. Robert W. Baird reduced their price objective on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Piper Sandler boosted their price target on Freshworks from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.07.

Institutional Trading of Freshworks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after buying an additional 954 shares during the last quarter. Amalgamated Bank increased its stake in Freshworks by 29.1% during the second quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock valued at $90,000 after acquiring an additional 1,588 shares during the period. Avion Wealth acquired a new position in Freshworks in the 4th quarter valued at approximately $26,000. Covestor Ltd lifted its position in shares of Freshworks by 89.9% in the 3rd 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 period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after purchasing an additional 2,223 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

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.