Freshworks Inc. (NASDAQ:FRSH) Director Sells $154,488.60 in Stock

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the completion of the sale, the director now directly owns 24,187 shares of the company’s stock, valued at $442,622.10. The trade was a 25.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, January 2nd, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $15.85, for a total transaction of $133,663.05.

Freshworks Stock Up 0.2 %

Shares of FRSH traded up $0.03 during trading hours on Tuesday, reaching $18.49. The company’s stock had a trading volume of 2,759,847 shares, compared to its average volume of 3,937,377. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of -54.38 and a beta of 0.91. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $22.78. The company has a 50 day moving average of $16.71 and a two-hundred day moving average of $13.88.

Hedge Funds Weigh In On Freshworks

A number of hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after buying an additional 954 shares during the last quarter. Avion Wealth acquired a new position in Freshworks in the fourth quarter worth approximately $26,000. Covestor Ltd increased its holdings in Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after buying an additional 1,704 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Freshworks by 102.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after buying an additional 2,223 shares during the last quarter. Finally, KBC Group NV increased its holdings in Freshworks by 59.1% in the fourth quarter. KBC Group NV now owns 7,604 shares of the company’s stock worth $123,000 after buying an additional 2,824 shares during the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.

Wall Street Analysts Forecast Growth

FRSH has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Freshworks in a report on Wednesday, January 15th. JMP Securities upped their price target on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Oppenheimer raised shares of Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Thursday, January 16th. Robert W. Baird cut their price target on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Wells Fargo & Company downgraded shares of Freshworks from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.07.

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.