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

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,442 shares of Freshworks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $18.30, for a total value 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 approximately $442,622.10. This trade represents a 25.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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 value of $133,663.05.

Freshworks Stock Down 0.8 %

Shares of FRSH stock opened at $18.36 on Friday. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of -54.00 and a beta of 0.91. The business’s fifty day moving average is $16.82 and its 200 day moving average is $13.94. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $22.78.

Institutional Investors Weigh In On Freshworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Freshworks in the fourth quarter worth $20,666,000. Arizona State Retirement System grew its stake in Freshworks by 2.2% in the fourth quarter. Arizona State Retirement System now owns 51,704 shares of the company’s stock worth $836,000 after purchasing an additional 1,103 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Freshworks by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,609,957 shares of the company’s stock worth $26,033,000 after purchasing an additional 53,185 shares during the period. Versor Investments LP grew its stake in shares of Freshworks by 3.0% in the fourth quarter. Versor Investments LP now owns 34,400 shares of the company’s stock worth $556,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Freshworks in the fourth quarter worth $2,043,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FRSH has been the subject of a number of recent analyst reports. Canaccord Genuity Group lifted their target price on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Freshworks in a report on Wednesday, January 15th. Robert W. Baird reduced 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. Oppenheimer raised Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Thursday, January 16th. Finally, JMP Securities boosted their price objective on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a 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 given a buy rating to the stock. According to MarketBeat.com, Freshworks has a consensus rating of “Moderate Buy” and an average target price 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.