Freshworks Inc. (NASDAQ:FRSH) Insider Sells $45,286.56 in Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total value of $45,286.56. Following the sale, the insider now owns 400,249 shares of the company’s stock, valued at approximately $6,339,944.16. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 transaction of $96,920.10.

Freshworks Trading Up 1.1 %

FRSH stock traded up $0.17 during trading on Friday, reaching $16.07. The stock had a trading volume of 2,899,766 shares, compared to its average volume of 2,737,896. The firm has a market cap of $4.87 billion, a PE ratio of -47.26 and a beta of 0.90. The stock’s 50 day moving average is $15.42 and its two-hundred day moving average is $13.11. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $23.93.

Analyst Ratings Changes

A number of analysts have weighed in on FRSH shares. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Freshworks in a research note on Tuesday, December 17th. Canaccord Genuity Group lifted their price target on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. JMP Securities lifted their price target on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird lowered their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.69.

Hedge Funds Weigh In On Freshworks

Institutional investors and hedge funds have recently made changes to their positions in the business. Everence Capital Management Inc. purchased a new stake in shares of Freshworks in the 4th quarter worth $190,000. JPMorgan Chase & Co. grew its holdings in Freshworks by 49.8% during the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after purchasing an additional 1,752,995 shares during the period. Franklin Resources Inc. increased its position in Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock worth $44,934,000 after buying an additional 604,658 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Freshworks in the third quarter worth about $534,000. Finally, Geode Capital Management LLC lifted its position in shares of Freshworks by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock valued at $52,750,000 after buying an additional 66,342 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Company Profile

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.