Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Insider Sells 2,859 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of Freshworks stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.84, for a total value of $45,286.56. Following the completion of the transaction, the insider now owns 400,249 shares in the company, valued at $6,339,944.16. The trade was a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 Trading Up 1.1 %

FRSH opened at $16.07 on Monday. The stock has a 50-day moving average of $15.51 and a 200-day moving average of $13.15. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $23.93.

Hedge Funds Weigh In On Freshworks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Freshworks by 35.9% during the second quarter. Bank of New York Mellon Corp now owns 1,588,968 shares of the company’s stock worth $20,164,000 after buying an additional 420,135 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Freshworks by 32.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,047 shares of the company’s stock valued at $470,000 after acquiring an additional 9,180 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Freshworks by 26.4% during the second quarter. Principal Financial Group Inc. now owns 27,541 shares of the company’s stock worth $349,000 after purchasing an additional 5,745 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Freshworks during the second quarter valued at approximately $58,000. Finally, Rhumbline Advisers increased its holdings in shares of Freshworks by 23.9% in the second quarter. Rhumbline Advisers now owns 281,379 shares of the company’s stock valued at $3,571,000 after purchasing an additional 54,293 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.

Wall Street Analysts Forecast Growth

FRSH has been the topic of several research analyst reports. Robert W. Baird lowered their price objective on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Freshworks in a report on Tuesday, December 17th. Canaccord Genuity Group increased their price objective on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their target price on Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, JMP Securities increased their price target on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Freshworks has an average rating of “Moderate Buy” and an average target price of $18.69.

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.