Freshworks Inc. (NASDAQ:FRSH) Insider Mika Yamamoto Sells 5,718 Shares

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 5,718 shares of Freshworks stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $16.95, for a total transaction of $96,920.10. Following the transaction, the insider now owns 403,108 shares of the company’s stock, valued at $6,832,680.60. The trade was a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Freshworks Price Performance

NASDAQ FRSH opened at $15.40 on Friday. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of -45.29 and a beta of 0.90. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $24.59. The business’s fifty day moving average price is $14.51 and its 200-day moving average price is $12.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP increased its position in shares of Freshworks by 80.1% during the 3rd quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock valued at $4,895,000 after purchasing an additional 189,616 shares during the last quarter. Sei Investments Co. grew its position in Freshworks by 191.9% during the second quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock valued at $1,216,000 after buying an additional 63,006 shares during the period. Edgestream Partners L.P. purchased a new stake in Freshworks during the third quarter valued at approximately $1,193,000. Intech Investment Management LLC bought a new position in Freshworks in the third quarter worth approximately $867,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Freshworks by 806.1% during the 3rd 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 last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Piper Sandler boosted their target price on Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Robert W. Baird reduced their price objective on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Freshworks in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.69.

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.