Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson Sells 8,433 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total value of $133,663.05. Following the completion of the sale, the director now directly owns 24,187 shares of the company’s stock, valued at approximately $383,363.95. The trade was a 25.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zachary Nelson also recently made the following trade(s):

• On Monday, November 4th, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $12.19, for a total value of $102,798.27.

Freshworks Stock Performance

Shares of NASDAQ FRSH traded up $0.17 during mid-day trading on Friday, reaching $16.07. The company had a trading volume of 2,899,766 shares, compared to its average volume of 2,737,896. Freshworks Inc. has a one year low of $10.81 and a one year high of $23.93. The business’s 50-day simple moving average is $15.42 and its 200 day simple moving average is $13.11. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of -47.26 and a beta of 0.90.

Hedge Funds Weigh In On Freshworks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Freshworks by 1,987.3% in the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after acquiring an additional 2,822 shares during the last quarter. Covestor Ltd increased its stake in shares of Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares during the last quarter. Quarry LP raised its holdings in shares of Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after buying an additional 2,645 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Freshworks during the 3rd quarter worth $57,000. Finally, International Assets Investment Management LLC acquired a new stake in Freshworks in the second quarter valued at about $58,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on FRSH shares. Wells Fargo & Company upped their price objective on shares of Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Robert W. Baird cut their price objective on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Piper Sandler upped their target price on Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group lifted their price target on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Freshworks has a consensus 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.