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

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $18.29, for a total value of $52,291.11. Following the completion of the sale, the insider now owns 397,390 shares of the company’s stock, valued at $7,268,263.10. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, January 2nd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $15.84, for a total value 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 value of $96,920.10.

Freshworks Trading Up 0.2 %

Shares of FRSH stock opened at $18.49 on Wednesday. The stock’s 50-day moving average price is $16.71 and its 200-day moving average price is $13.88. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $22.78. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of -54.38 and a beta of 0.91.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Robert W. Baird reduced their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company cut shares of Freshworks from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $16.00 to $13.00 in a research note on Tuesday, January 21st. Oppenheimer upgraded shares of Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Thursday, January 16th. Canaccord Genuity Group increased their price target on Freshworks from $17.00 to $19.00 and gave the stock a “buy” 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 report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.07.

Institutional Trading of Freshworks

Large investors have recently added to or reduced their stakes in the company. Avion Wealth bought a new position in shares of Freshworks during the 4th quarter valued at approximately $26,000. Blue Trust Inc. raised its stake in Freshworks by 1,987.3% during the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after purchasing an additional 2,822 shares in the last quarter. Covestor Ltd lifted its position in Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Freshworks in the 3rd quarter worth $57,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after buying an additional 2,223 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

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.