Jennifer H. Taylor Sells 4,690 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $11.06, for a total transaction of $51,871.40. Following the completion of the transaction, the director now owns 36,689 shares in the company, valued at approximately $405,780.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Freshworks Stock Up 2.8 %

Shares of FRSH stock traded up $0.31 during trading hours on Friday, hitting $11.47. 2,540,656 shares of the company’s stock were exchanged, compared to its average volume of 2,597,621. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $24.98. The firm has a market cap of $3.43 billion, a P/E ratio of -27.90 and a beta of 0.73. The firm has a 50 day moving average of $11.39 and a two-hundred day moving average of $13.46.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.08 earnings per share for the quarter, topping 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 company had revenue of $174.13 million during the quarter, compared to analysts’ expectations of $169.05 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities analysts forecast that Freshworks Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its holdings in shares of Freshworks by 34.2% during the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after acquiring an additional 757 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Freshworks by 0.5% during 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 in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Freshworks by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,755 shares of the company’s stock valued at $250,000 after purchasing an additional 1,160 shares during the last quarter. Amalgamated Bank lifted its holdings in Freshworks by 29.1% in the 2nd quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock valued at $90,000 after purchasing an additional 1,588 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Freshworks by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 29,127 shares of the company’s stock valued at $530,000 after purchasing an additional 2,293 shares in the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays cut their price objective on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Canaccord Genuity Group reduced their price objective on Freshworks from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Scotiabank lowered their target price on Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. Cantor Fitzgerald dropped their target price on Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Freshworks in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.38.

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.