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 Monday, March 3rd. The shares were sold at an average price of $16.72, for a total transaction of $140,999.76. Following the completion of the sale, the director now owns 24,187 shares in the company, valued at $404,406.64. This represents a 25.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, February 3rd, Zachary Nelson sold 8,442 shares of Freshworks stock. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60.
• On Thursday, January 2nd, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $15.85, for a total transaction of $133,663.05.

Freshworks Stock Performance

FRSH stock traded up $0.03 during mid-day trading on Tuesday, reaching $16.36. 2,500,969 shares of the stock traded hands, compared to its average volume of 4,124,399. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The stock has a market capitalization of $4.93 billion, a PE ratio of -51.13 and a beta of 0.91. The business has a 50-day moving average price of $17.21 and a two-hundred day moving average price of $14.60.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. On average, equities analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. StockNews.com raised shares of Freshworks from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC lifted their price objective on shares of Freshworks from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Scotiabank boosted their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group upped their target price on shares of Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.14.

Hedge Funds Weigh In On Freshworks

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avion Wealth acquired a new position in Freshworks in the 4th quarter worth approximately $26,000. Covestor Ltd grew its stake in 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 acquiring an additional 1,704 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Freshworks in the 3rd quarter valued at $57,000. Blue Trust Inc. lifted its holdings in Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after purchasing an additional 954 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in Freshworks by 1,385.8% in the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after purchasing an additional 3,700 shares in the last quarter. 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.