Freshworks Inc. (NASDAQ:FRSH) Insider Sells $47,859.66 in Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $16.74, for a total value of $47,859.66. Following the transaction, the insider now directly owns 615,893 shares in the company, valued at $10,310,048.82. This represents a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mika Yamamoto also recently made the following trade(s):

• On Monday, February 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $18.29, for a total value of $52,291.11.
• On Thursday, January 2nd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The stock was sold at an average price of $15.84, for a total transaction of $45,286.56.
• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The shares were sold at an average price of $16.95, for a total transaction of $96,920.10.

Freshworks Price Performance

Shares of Freshworks stock opened at $15.95 on Friday. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The firm has a market cap of $4.81 billion, a PE ratio of -49.84 and a beta of 0.92. The company has a 50 day simple moving average of $17.23 and a two-hundred day simple moving average of $14.65.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) 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%. As a group, research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Freshworks

Hedge funds and other institutional investors have recently modified their holdings of the company. Eminence Capital LP purchased a new position in shares of Freshworks during the 4th quarter valued at about $86,002,000. Arrowstreet Capital Limited Partnership bought a new position in Freshworks during the fourth quarter valued at approximately $61,530,000. Norges Bank purchased a new position in shares of Freshworks during the fourth quarter worth approximately $57,527,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Freshworks in the 4th quarter worth approximately $49,946,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Freshworks by 49.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after purchasing an additional 1,752,995 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FRSH. Wells Fargo & Company downgraded shares of Freshworks from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $16.00 to $13.00 in a report on Tuesday, January 21st. Barclays raised their price target on Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Morgan Stanley boosted their price objective on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. StockNews.com upgraded Freshworks from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald lifted their target price on Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Freshworks currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

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.