Freshworks Inc. (NASDAQ:FRSH – Get Free Report) Director Roxanne S. Austin sold 6,303 shares of Freshworks stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $11.22, for a total transaction of $70,719.66. Following the sale, the director now owns 223,106 shares of the company’s stock, valued at approximately $2,503,249.32. The sale was disclosed in a document filed with the SEC, which is available through this link.
Freshworks Stock Up 2.5 %
NASDAQ FRSH opened at $11.35 on Friday. Freshworks Inc. has a 52 week low of $10.96 and a 52 week high of $24.98. The business’s fifty day simple moving average is $12.48 and its 200-day simple moving average is $15.94. The firm has a market cap of $3.39 billion, a PE ratio of -28.30 and a beta of 0.74.
Freshworks (NASDAQ:FRSH – Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $174.13 million for the quarter, compared to analyst estimates of $169.05 million. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. Freshworks’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) EPS. Research analysts expect that Freshworks Inc. will post -0.34 EPS for the current year.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on FRSH
Institutional Investors Weigh In On Freshworks
A number of institutional investors have recently made changes to their positions in the stock. Capital International Investors acquired a new stake in Freshworks in the 1st quarter valued at approximately $59,311,000. Clearbridge Investments LLC raised its holdings in shares of Freshworks by 107.4% in the 1st quarter. Clearbridge Investments LLC now owns 4,050,733 shares of the company’s stock valued at $73,764,000 after buying an additional 2,097,280 shares during the period. Norges Bank purchased a new stake in shares of Freshworks in the 4th quarter valued at $44,919,000. Ninety One UK Ltd purchased a new position in Freshworks during the 4th quarter valued at about $36,303,000. Finally, Vanguard Group Inc. grew its position in Freshworks by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock valued at $385,525,000 after acquiring an additional 1,354,530 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Articles
- Five stocks we like better than Freshworks
- The Significance of Brokerage Rankings in Stock Selection
- Michael Burry’s Alibaba Bet and the Broader Market Implications
- What Are Trending Stocks? Trending Stocks Explained
- Jeff Brown’s Exegesis AI Stock Picks
- Why Are These Companies Considered Blue Chips?
- Warren Buffett’s Bet: Why Berkshire Hathaway Bought Ulta Stock
Receive News & Ratings for Freshworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshworks and related companies with MarketBeat.com's FREE daily email newsletter.