Freshworks Inc. (NASDAQ:FRSH) Director Sells $72,570.65 in Stock

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $15.49, for a total transaction of $72,570.65. Following the transaction, the director now owns 37,286 shares of the company’s stock, valued at approximately $577,560.14. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Freshworks Price Performance

Shares of Freshworks stock traded up $0.01 during trading on Monday, hitting $15.60. The company’s stock had a trading volume of 2,055,959 shares, compared to its average volume of 2,885,994. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -45.88 and a beta of 0.88. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $23.64. The stock has a 50-day moving average price of $15.93 and a two-hundred day moving average price of $13.29.

Institutional Investors Weigh In On Freshworks

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in shares of Freshworks by 1,987.3% during 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 during the last quarter. Covestor Ltd raised its holdings in Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after purchasing an additional 1,704 shares during the last quarter. Quarry LP raised its holdings in Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after purchasing an additional 2,645 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Freshworks in the 3rd quarter worth approximately $57,000. Finally, Amalgamated Bank boosted its stake in shares of Freshworks by 29.1% in the 2nd quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock valued at $90,000 after purchasing an additional 1,588 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Piper Sandler boosted their price target on Freshworks from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company boosted their target price on Freshworks from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 7th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research note on Tuesday, December 17th. Robert W. Baird decreased their price target on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price objective 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. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Freshworks has an average rating of “Moderate Buy” and an average target price of $19.08.

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.