Jennifer H. Taylor Sells 4,690 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $11.06, for a total value of $51,871.40. Following the transaction, the director now directly owns 36,689 shares of the company’s stock, valued at approximately $405,780.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Freshworks Price Performance

Shares of FRSH opened at $11.47 on Friday. Freshworks Inc. has a one year low of $10.81 and a one year high of $24.98. The company has a market cap of $3.43 billion, a PE ratio of -28.68 and a beta of 0.73. The stock has a 50-day moving average of $11.39 and a 200-day moving average of $13.38.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The firm had revenue of $174.13 million during the quarter, compared to the consensus estimate of $169.05 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts expect that Freshworks Inc. will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FRSH. Advisors Asset Management Inc. grew its holdings in shares of Freshworks by 34.2% during the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after buying an additional 757 shares during the last quarter. California State Teachers Retirement System increased its holdings in Freshworks by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 161,706 shares of the company’s stock worth $2,945,000 after purchasing an additional 831 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Freshworks by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 13,755 shares of the company’s stock worth $250,000 after purchasing an additional 1,160 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Freshworks by 29.1% in the second quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock valued at $90,000 after purchasing an additional 1,588 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Freshworks by 8.5% during the first quarter. ProShare Advisors LLC now owns 29,127 shares of the company’s stock valued at $530,000 after buying an additional 2,293 shares during the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.

Analysts Set New Price Targets

FRSH has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Jefferies Financial Group lowered their target price on Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Canaccord Genuity Group cut their price target on Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Barclays lowered their price objective on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Finally, Piper Sandler reduced their target price on shares of Freshworks from $17.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Freshworks presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

About Freshworks

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.