Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor Sells 4,685 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $15.49, for a total transaction of $72,570.65. Following the completion of the transaction, the director now directly owns 37,286 shares in the company, valued at approximately $577,560.14. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Freshworks Price Performance

Shares of NASDAQ:FRSH opened at $15.60 on Tuesday. The company’s 50 day simple moving average is $15.93 and its 200 day simple moving average is $13.29. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of -45.88 and a beta of 0.88. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $23.64.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after buying an additional 1,752,995 shares in the last quarter. M&G PLC acquired a new stake in Freshworks in the third quarter valued at approximately $9,094,000. Franklin Resources Inc. boosted its position in Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock valued at $44,934,000 after buying an additional 604,658 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in Freshworks in the third quarter valued at approximately $5,260,000. Finally, State Street Corp boosted its position in Freshworks by 7.1% in the third quarter. State Street Corp now owns 4,729,093 shares of the company’s stock valued at $54,290,000 after buying an additional 313,982 shares in the last quarter. 75.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FRSH has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday. Piper Sandler increased their price target on shares of Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company raised their target price on shares of Freshworks from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 7th. Canaccord Genuity Group raised 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Freshworks in a report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.08.

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.