Freshworks Inc. (NASDAQ:FRSH) Director Sells $133,663.05 in Stock

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.85, for a total value of $133,663.05. Following the transaction, the director now owns 24,187 shares of the company’s stock, valued at approximately $383,363.95. This represents a 25.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, November 4th, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $12.19, for a total transaction of $102,798.27.

Freshworks Stock Performance

FRSH opened at $16.07 on Friday. Freshworks Inc. has a one year low of $10.81 and a one year high of $23.93. The company has a market cap of $4.87 billion, a P/E ratio of -47.26 and a beta of 0.90. The business’s 50-day simple moving average is $15.51 and its 200-day simple moving average is $13.15.

Hedge Funds Weigh In On Freshworks

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after buying an additional 2,822 shares in the last quarter. Covestor Ltd lifted its position in Freshworks by 89.9% in the third 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 last quarter. Quarry LP boosted its stake in Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after acquiring an additional 2,645 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Freshworks during the second quarter worth about $58,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Freshworks during the third quarter worth about $57,000. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on FRSH. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a report on Tuesday, December 17th. Wells Fargo & Company raised their price target on Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. JMP Securities boosted their price objective on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Robert W. Baird lowered their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Canaccord Genuity Group increased their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.69.

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.