Freshworks Inc. (NASDAQ:FRSH) Director Sells 780 Shares

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Barry L. Padgett sold 780 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $14.09, for a total value of $10,990.20. Following the transaction, the director now directly owns 26,957 shares in the company, valued at approximately $379,824.13. This trade represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Freshworks Stock Down 6.2 %

NASDAQ FRSH traded down $0.81 during trading hours on Friday, reaching $12.29. 6,114,732 shares of the company were exchanged, compared to its average volume of 3,270,273. The stock has a market capitalization of $3.71 billion, a P/E ratio of -38.41 and a beta of 0.98. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The business's 50 day simple moving average is $16.51 and its 200-day simple moving average is $15.17.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its quarterly 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, sell-side analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On Freshworks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRSH. Polar Asset Management Partners Inc. bought a new stake in Freshworks during the 4th quarter valued at $5,053,000. JT Stratford LLC raised its stake in shares of Freshworks by 41.6% during the 4th quarter. JT Stratford LLC now owns 20,133 shares of the company's stock valued at $326,000 after purchasing an additional 5,917 shares during the period. PharVision Advisers LLC purchased a new stake in Freshworks during the 4th quarter worth about $370,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Freshworks by 19.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 370,676 shares of the company's stock worth $5,994,000 after purchasing an additional 60,652 shares during the period. Finally, Vident Advisory LLC purchased a new position in Freshworks during the 4th quarter valued at about $316,000. 75.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on FRSH shares. Jefferies Financial Group decreased their price target on shares of Freshworks from $22.00 to $20.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Morgan Stanley raised their price target on shares of Freshworks from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Cantor Fitzgerald boosted their price objective on Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. StockNews.com upgraded Freshworks from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Finally, Scotiabank upped their price target on Freshworks from $17.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.14.

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.