Freshworks Inc. (NASDAQ:FRSH) Director Sells $93,199.68 in Stock

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,442 shares of Freshworks stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total value of $93,199.68. Following the completion of the transaction, the director now owns 23,497 shares of the company’s stock, valued at approximately $259,406.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Zachary Nelson also recently made the following trade(s):

• On Tuesday, September 3rd, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $11.54, for a total value of $97,316.82.
• On Friday, August 2nd, Zachary Nelson sold 8,442 shares of Freshworks stock. The stock was sold at an average price of $11.60, for a total value of $97,927.20.

Freshworks Stock Up 3.3 %

NASDAQ:FRSH opened at $11.24 on Friday. Freshworks Inc. has a 52-week low of $10.84 and a 52-week high of $24.98. The stock’s 50 day moving average price is $11.52 and its 200 day moving average price is $13.67. The company has a market capitalization of $3.36 billion, a PE ratio of -28.10 and a beta of 0.73.

Freshworks (NASDAQ:FRSH) last announced its earnings results on Tuesday, July 30th. The company reported $0.08 earnings per share (EPS) 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 business 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 posted ($0.12) earnings per share. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Freshworks Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FRSH has been the subject of a number of recent research reports. 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 note on Wednesday, July 31st. StockNews.com downgraded shares of Freshworks from a “buy” rating to a “hold” rating in a research note on Saturday, June 22nd. Scotiabank cut their price target 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. Canaccord Genuity Group lowered their price objective on Freshworks from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. cut their target price on Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Six research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.69.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FRSH. Vanguard Group Inc. grew its holdings in shares of Freshworks by 6.8% during the first quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock worth $385,525,000 after buying an additional 1,354,530 shares during the last quarter. FACT Capital LP increased its holdings in shares of Freshworks by 9.3% in the fourth quarter. FACT Capital LP now owns 764,373 shares of the company’s stock valued at $17,955,000 after purchasing an additional 64,957 shares during the period. ProShare Advisors LLC raised its stake in shares of Freshworks by 8.5% during the first quarter. ProShare Advisors LLC now owns 29,127 shares of the company’s stock worth $530,000 after purchasing an additional 2,293 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Freshworks by 41.3% during the second quarter. Canada Pension Plan Investment Board now owns 505,400 shares of the company’s stock worth $6,414,000 after purchasing an additional 147,700 shares during the period. Finally, Seven Eight Capital LP purchased a new position in Freshworks in the 1st quarter valued at $1,316,000. 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.