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

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,685 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $11.17, for a total transaction of $52,331.45. Following the transaction, the director now owns 35,853 shares of the company’s stock, valued at $400,478.01. The transaction was disclosed in a filing with the SEC, which is available through this link.

Freshworks Price Performance

Freshworks stock opened at $11.19 on Friday. Freshworks Inc. has a 1-year low of $10.96 and a 1-year high of $24.98. The firm’s fifty day moving average price is $12.13 and its two-hundred day moving average price is $14.57.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The firm had revenue of $174.13 million for the quarter, compared to analyst estimates of $169.05 million. During the same period last year, the firm earned ($0.12) earnings per share. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. Analysts anticipate that Freshworks Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRSH. Board of Trustees of The Leland Stanford Junior University lifted its holdings in Freshworks by 1.9% during the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 35,019 shares of the company’s stock worth $823,000 after acquiring an additional 638 shares during the period. Advisors Asset Management Inc. boosted its position in Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after purchasing an additional 757 shares during the last quarter. California State Teachers Retirement System boosted its position in Freshworks by 0.5% in the first quarter. California State Teachers Retirement System now owns 161,706 shares of the company’s stock worth $2,945,000 after purchasing an additional 831 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Freshworks by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 13,755 shares of the company’s stock worth $250,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Amalgamated Bank boosted its position in Freshworks by 29.1% in the second quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock worth $90,000 after purchasing an additional 1,588 shares during the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FRSH shares. JPMorgan Chase & Co. lowered their price objective on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Scotiabank decreased their price target on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 31st. Jefferies Financial Group decreased their price target on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research report on Wednesday, July 31st. Finally, Barclays decreased their price target on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.