Freshworks Inc. (NASDAQ:FRSH) Director Sells $40,568.50 in Stock

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Barry L. Padgett sold 2,345 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total value of $40,568.50. Following the completion of the sale, the director now directly owns 26,957 shares in the company, valued at approximately $466,356.10. This trade represents a 8.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Freshworks Stock Down 1.7 %

NASDAQ FRSH traded down $0.26 on Thursday, reaching $15.40. 4,591,573 shares of the stock traded hands, compared to its average volume of 2,987,847. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $24.59. The firm's fifty day simple moving average is $14.43 and its 200 day simple moving average is $12.87. The company has a market cap of $4.66 billion, a price-to-earnings ratio of -45.29 and a beta of 0.90.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. State Street Corp increased its stake in Freshworks by 7.1% in the 3rd quarter. State Street Corp now owns 4,729,093 shares of the company's stock worth $54,290,000 after purchasing an additional 313,982 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Freshworks by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company's stock worth $52,750,000 after buying an additional 66,342 shares during the period. Franklin Resources Inc. increased its position in shares of 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 acquiring an additional 604,658 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Freshworks by 7.6% during the second quarter. Renaissance Technologies LLC now owns 3,134,600 shares of the company's stock valued at $39,778,000 after acquiring an additional 221,900 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Freshworks by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,428,755 shares of the company's stock valued at $30,821,000 after acquiring an additional 239,671 shares in the last quarter. Institutional investors own 75.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Freshworks from $17.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. JMP Securities lifted their price objective on shares of Freshworks from $21.00 to $24.00 and gave the company a "market outperform" rating in a research report on Thursday, November 7th. Piper Sandler boosted their target price on shares of Freshworks from $13.00 to $18.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Robert W. Baird dropped their price target on shares of Freshworks from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group lifted their price target on Freshworks from $17.00 to $19.00 and gave the company a "buy" rating in a 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. According to data from MarketBeat.com, Freshworks currently has a consensus rating of "Moderate Buy" and an average target price 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.