Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Insider Sells 2,859 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $18.29, for a total value of $52,291.11. Following the transaction, the insider now owns 397,390 shares of the company’s stock, valued at approximately $7,268,263.10. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 value of $45,286.56.
• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The shares were sold at an average price of $16.95, for a total value of $96,920.10.

Freshworks Price Performance

NASDAQ: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. Freshworks Inc. has a one year low of $10.81 and a one year high of $22.78. The business’s 50-day moving average is $16.71 and its 200-day moving average is $13.88. The company has a market cap of $5.60 billion, a price-to-earnings ratio of -54.38 and a beta of 0.91.

Analysts Set New Price Targets

FRSH has been the topic of several research analyst reports. Piper Sandler upped their price objective on Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley increased their price target on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a research note on Wednesday, January 15th. Oppenheimer upgraded Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group boosted their price target on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Freshworks currently has a consensus rating of “Moderate Buy” and an average price target of $19.07.

Institutional Investors Weigh In On Freshworks

Several hedge funds have recently made changes to their positions in FRSH. Blue Trust Inc. boosted its stake in Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after acquiring an additional 954 shares during the last quarter. Avion Wealth bought a new stake in shares of Freshworks in the 4th quarter valued at about $26,000. Covestor Ltd grew its position in shares of Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after purchasing an additional 1,704 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after acquiring an additional 2,223 shares in the last quarter. Finally, KBC Group NV lifted its stake in Freshworks by 59.1% in the 4th quarter. KBC Group NV now owns 7,604 shares of the company’s stock valued at $123,000 after purchasing an additional 2,824 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

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.