Freshworks Inc. (NASDAQ:FRSH) Insider Sells $47,859.66 in Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of Freshworks stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.74, for a total value of $47,859.66. Following the transaction, the insider now directly owns 615,893 shares in the company, valued at approximately $10,310,048.82. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, February 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The stock was sold at an average price of $18.29, for a total transaction of $52,291.11.
• On Thursday, January 2nd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The stock was sold at an average price of $15.84, for a total transaction of $45,286.56.
• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The shares were sold at an average price of $16.95, for a total value of $96,920.10.

Freshworks Stock Performance

NASDAQ:FRSH opened at $16.36 on Wednesday. The firm’s fifty day moving average is $17.21 and its two-hundred day moving average is $14.60. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of -51.13 and a beta of 0.91. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. As a group, equities research analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Freshworks

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Avion Wealth acquired a new position in shares of Freshworks in the 4th quarter valued at $26,000. Covestor Ltd increased its holdings in Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares in the last quarter. Blue Trust Inc. raised its position in shares of Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after acquiring an additional 954 shares during the period. National Bank of Canada FI boosted its stake in shares of Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock worth $64,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after acquiring an additional 2,223 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FRSH. Piper Sandler lifted their price target on shares of Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Morgan Stanley lifted their price objective on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. increased their target price on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Wells Fargo & Company downgraded Freshworks from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $16.00 to $13.00 in a report on Tuesday, January 21st. Finally, Canaccord Genuity Group increased their price objective on shares of Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.14.

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.