Barry L. Padgett Sells 2,345 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett sold 2,345 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $17.30, for a total value of $40,568.50. Following the sale, the director now owns 26,957 shares of the company’s stock, valued at approximately $466,356.10. This represents a 8.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Freshworks Price Performance

NASDAQ FRSH opened at $15.33 on Friday. The business’s fifty day moving average is $14.59 and its 200-day moving average is $12.91. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of -45.09 and a beta of 0.90. Freshworks Inc. has a one year low of $10.81 and a one year high of $24.34.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FRSH. Piper Sandler boosted their price target on shares of Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Canaccord Genuity Group upped their target price on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Robert W. Baird decreased their price objective on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price on Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.69.

Institutional Trading of Freshworks

Several hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in shares of Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after acquiring an additional 2,822 shares during the period. Covestor Ltd boosted its holdings in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares during the period. CWM LLC raised its stake in shares of Freshworks by 554.5% during the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after purchasing an additional 2,878 shares during the period. Quarry LP increased its position in shares of Freshworks by 157.6% during the second quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after buying an additional 2,645 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in Freshworks during the 3rd quarter worth approximately $57,000. 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.