Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Director Sells 8,433 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.72, for a total value of $140,999.76. Following the completion of the sale, the director now directly owns 24,187 shares in the company, valued at approximately $404,406.64. This represents a 25.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, February 3rd, Zachary Nelson sold 8,442 shares of Freshworks stock. The stock was sold at an average price of $18.30, for a total value of $154,488.60.
• 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 Trading Up 0.2 %

Shares of FRSH stock traded up $0.03 on Tuesday, hitting $16.36. The stock had a trading volume of 2,500,969 shares, compared to its average volume of 4,124,399. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77. The firm has a market cap of $4.93 billion, a P/E ratio of -51.13 and a beta of 0.91. The company has a fifty day moving average price of $17.21 and a two-hundred day moving average price of $14.60.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. On average, analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

FRSH has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Scotiabank lifted their target price on shares of Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald lifted their target price on shares of Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. UBS Group set a $22.00 price objective on shares of Freshworks in a research report on Thursday, February 6th. Finally, Morgan Stanley boosted their price objective on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

Institutional Investors Weigh In On Freshworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRSH. 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. Point72 Hong Kong Ltd acquired a new position in shares of Freshworks during the 3rd quarter worth approximately $57,000. Blue Trust Inc. boosted its position in shares of Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after acquiring an additional 954 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock worth $64,000 after acquiring an additional 3,700 shares in the last quarter. 75.58% of the stock is owned by institutional investors.

Freshworks Company Profile

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.