Freshworks Inc. (NASDAQ:FRSH) Director Sells 780 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett sold 780 shares of Freshworks stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $18.65, for a total value of $14,547.00. Following the completion of the transaction, the director now owns 26,957 shares in the company, valued at $502,748.05. This trade represents a 2.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Freshworks Stock Down 2.6 %

Freshworks stock opened at $17.89 on Friday. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $22.14. The stock has a 50-day moving average price of $16.82 and a 200 day moving average price of $13.94. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of -52.62 and a beta of 0.91.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FRSH. 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 report on Monday, January 13th. Oppenheimer raised shares of Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Thursday, January 16th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Freshworks in a report on Wednesday, January 15th. Robert W. Baird dropped their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, JMP Securities upped their target price on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. One 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 presently has an average rating of “Moderate Buy” and an average target price of $19.07.

Institutional Trading of Freshworks

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of Freshworks by 49.8% during the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock worth $60,503,000 after purchasing an additional 1,752,995 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Freshworks during the 4th quarter valued at about $20,666,000. M&G PLC acquired a new position in shares of Freshworks in the 3rd quarter valued at about $9,094,000. Franklin Resources Inc. boosted its stake in shares of Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock worth $44,934,000 after buying an additional 604,658 shares during the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in Freshworks during the third quarter worth about $5,260,000. 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.