Freshworks Inc. (NASDAQ:FRSH) Insider Mika Yamamoto Sells 1,765 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 1,765 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $15.50, for a total transaction of $27,357.50. Following the completion of the sale, the insider now owns 574,776 shares in the company, valued at approximately $8,909,028. This trade represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, June 2nd, Mika Yamamoto sold 3,574 shares of Freshworks stock. The stock was sold at an average price of $15.13, for a total transaction of $54,074.62.
• On Monday, May 5th, Mika Yamamoto sold 3,574 shares of Freshworks stock. The stock was sold at an average price of $14.66, for a total transaction of $52,394.84.
• On Tuesday, April 1st, Mika Yamamoto sold 3,574 shares of Freshworks stock. The stock was sold at an average price of $14.20, for a total transaction of $50,750.80.

Freshworks Trading Up 0.5%

Freshworks stock opened at $15.69 on Friday. The company has a market cap of $4.63 billion, a P/E ratio of -49.03 and a beta of 0.97. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77. The company has a fifty day simple moving average of $14.08 and a 200 day simple moving average of $15.69.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The company had revenue of $196.27 million during the quarter, compared to the consensus estimate of $191.90 million. During the same quarter last year, the firm posted $0.10 EPS. The company’s quarterly revenue was up 18.9% on a year-over-year basis. On average, equities research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC grew its position in shares of Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock valued at $3,875,000 after acquiring an additional 84,568 shares during the period. Raymond James Financial Inc. bought a new position in shares of Freshworks in the 4th quarter valued at about $20,666,000. Lisanti Capital Growth LLC bought a new position in shares of Freshworks in the 4th quarter valued at about $2,290,000. Ceera Investments LLC grew its position in shares of Freshworks by 1,261.7% in the 4th quarter. Ceera Investments LLC now owns 455,420 shares of the company’s stock valued at $7,364,000 after acquiring an additional 421,975 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Freshworks by 15.8% in the 4th quarter. Deutsche Bank AG now owns 513,810 shares of the company’s stock valued at $8,308,000 after acquiring an additional 70,001 shares during the period. Institutional investors own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

FRSH has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price objective on shares of Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Freshworks in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Oppenheimer dropped their price objective on shares of Freshworks from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Piper Sandler restated an “overweight” rating and set a $22.00 price objective (up from $20.00) on shares of Freshworks in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have given 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 $20.07.

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.