Freshworks Inc. (NASDAQ:FRSH) Director Sells $154,488.60 in Stock

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total value of $154,488.60. Following the transaction, the director now directly owns 24,187 shares of the company’s stock, valued at approximately $442,622.10. This trade represents a 25.87 % decrease in their position. 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 Thursday, January 2nd, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $15.85, for a total value of $133,663.05.

Freshworks Price Performance

Shares of Freshworks stock traded up $0.03 during trading on Tuesday, hitting $18.49. 2,759,847 shares of the company’s stock traded hands, compared to its average volume of 3,937,377. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $22.78. The stock has a market capitalization of $5.60 billion, a P/E ratio of -54.38 and a beta of 0.91. The business has a 50-day simple moving average of $16.71 and a 200-day simple moving average of $13.88.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FRSH shares. Morgan Stanley increased their price target on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Piper Sandler raised their price objective on Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Canaccord Genuity Group raised their price objective on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JMP Securities raised their price objective on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Finally, Oppenheimer raised Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP boosted its position in Freshworks by 80.1% in the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock worth $4,895,000 after purchasing an additional 189,616 shares during the last quarter. Smith Group Asset Management LLC bought a new position in shares of Freshworks in the fourth quarter worth about $589,000. Barclays PLC raised its stake in shares of Freshworks by 33.4% in the third quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after buying an additional 84,568 shares during the period. Sei Investments Co. raised its stake in Freshworks by 191.9% during the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock valued at $1,216,000 after purchasing an additional 63,006 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in Freshworks during the 3rd quarter valued at approximately $1,193,000. 75.58% of the stock is owned by hedge funds and other 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.