Freshworks Inc. (NASDAQ:FRSH) Insider Mika Yamamoto Sells 2,859 Shares

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.29, for a total transaction of $52,291.11. Following the sale, the insider now owns 397,390 shares of the company’s stock, valued at $7,268,263.10. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 stock was sold at an average price of $16.95, for a total transaction of $96,920.10.

Freshworks Stock Up 0.2 %

NASDAQ FRSH traded up $0.03 during trading on Tuesday, hitting $18.49. The stock had a trading volume of 2,759,847 shares, compared to its average volume of 3,937,377. The firm has a 50 day moving average price of $16.71 and a 200 day moving average price of $13.88. The company has a market capitalization of $5.60 billion, a PE ratio of -54.38 and a beta of 0.91. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $22.78.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Canaccord Genuity Group raised their target price on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JMP Securities lifted their price objective on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company lowered shares of Freshworks from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. Finally, Morgan Stanley lifted their price objective on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Freshworks presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.07.

Institutional Investors Weigh In On Freshworks

Several institutional investors have recently added to or reduced their stakes in FRSH. Quantbot Technologies LP lifted its stake in Freshworks by 80.1% in the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock valued at $4,895,000 after buying an additional 189,616 shares during the last quarter. Smith Group Asset Management LLC acquired a new position in Freshworks during the fourth quarter worth $589,000. Barclays PLC grew its holdings in Freshworks by 33.4% during the third quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after acquiring an additional 84,568 shares during the period. Sei Investments Co. grew its holdings in Freshworks by 191.9% in the second 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 last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Freshworks in the third quarter valued at $1,193,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

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.