Barry L. Padgett Sells 2,345 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett sold 2,345 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total transaction of $40,568.50. Following the completion of the transaction, the director now owns 26,957 shares in the company, valued at approximately $466,356.10. This trade represents a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Freshworks Trading Down 1.7 %

Shares of FRSH stock traded down $0.26 during mid-day trading on Thursday, reaching $15.40. The stock had a trading volume of 4,590,837 shares, compared to its average volume of 2,983,198. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $24.59. The firm has a market capitalization of $4.66 billion, a PE ratio of -45.29 and a beta of 0.90. The stock’s 50-day moving average price is $14.43 and its two-hundred day moving average price is $12.87.

Analyst Upgrades and Downgrades

A number of research firms have commented on FRSH. JPMorgan Chase & Co. boosted 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. Piper Sandler increased their target price on Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. JMP Securities lifted 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. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Freshworks in a research report on Tuesday. Finally, Robert W. Baird dropped their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.69.

Institutional Investors Weigh In On Freshworks

A number of large investors have recently made changes to their positions in FRSH. CWM LLC raised its holdings in shares of Freshworks by 554.5% during the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after acquiring an additional 2,878 shares in the last quarter. Bank of New York Mellon Corp increased its position in Freshworks by 35.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,588,968 shares of the company’s stock valued at $20,164,000 after purchasing an additional 420,135 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Freshworks by 32.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,047 shares of the company’s stock worth $470,000 after purchasing an additional 9,180 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Freshworks by 26.4% in the 2nd quarter. Principal Financial Group Inc. now owns 27,541 shares of the company’s stock worth $349,000 after purchasing an additional 5,745 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Freshworks in the 2nd quarter worth about $58,000. 75.58% of the stock is currently owned by institutional investors.

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.