Freshworks Inc. (NASDAQ:FRSH) Insider Sells $47,859.66 in Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $16.74, for a total value of $47,859.66. Following the completion of the transaction, the insider now directly owns 615,893 shares in the company, valued at approximately $10,310,048.82. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mika Yamamoto also recently made the following trade(s):

• On Monday, February 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $18.29, for a total transaction of $52,291.11.
• 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 transaction of $45,286.56.
• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The stock was sold at an average price of $16.95, for a total transaction of $96,920.10.

Freshworks Price Performance

NASDAQ FRSH opened at $15.95 on Friday. The company has a fifty day moving average price of $17.23 and a 200-day moving average price of $14.65. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of -49.84 and a beta of 0.92. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77.

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

Wall Street Analysts Forecast Growth

FRSH has been the topic of a number of research analyst reports. Scotiabank increased their price objective on shares of Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. JMP Securities set a $27.00 price target on Freshworks in a report on Wednesday, February 12th. Barclays boosted their price objective on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Needham & Company LLC upped their target price on Freshworks from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, StockNews.com raised shares of Freshworks from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

Institutional Trading of Freshworks

A number of institutional investors and hedge funds have recently modified their holdings of the business. Smith Group Asset Management LLC bought a new position in Freshworks in the 4th quarter valued at $589,000. Quantbot Technologies LP boosted its holdings in shares of Freshworks by 80.1% in the 3rd quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock worth $4,895,000 after buying an additional 189,616 shares during the last quarter. Barclays PLC grew its position in Freshworks by 33.4% during the third quarter. Barclays PLC now owns 337,621 shares of the company’s stock valued at $3,875,000 after buying an additional 84,568 shares during the period. Edgestream Partners L.P. purchased a new stake in Freshworks during the third quarter worth about $1,193,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Freshworks by 806.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock worth $2,699,000 after acquiring an additional 209,194 shares during the period. 75.58% of the stock is owned by hedge funds and other institutional investors.

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.