Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Barry L. Padgett sold 780 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $18.65, for a total transaction of $14,547.00. Following the transaction, the director now owns 26,957 shares of the company's stock, valued at $502,748.05. This represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Freshworks Stock Up 2.3 %
Shares of FRSH traded up $0.41 during mid-day trading on Monday, reaching $18.30. 4,423,214 shares of the company's stock were exchanged, compared to its average volume of 3,823,912. The company has a 50-day simple moving average of $16.86 and a two-hundred day simple moving average of $13.99. The company has a market cap of $5.54 billion, a price-to-earnings ratio of -53.82 and a beta of 0.91. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $22.14.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avion Wealth acquired a new stake in Freshworks during the fourth quarter worth approximately $26,000. Blue Trust Inc. lifted its position in Freshworks by 1,987.3% during the third quarter. Blue Trust Inc. now owns 2,964 shares of the company's stock worth $38,000 after buying an additional 2,822 shares during the period. Covestor Ltd boosted its stake in Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company's stock worth $41,000 after buying an additional 1,704 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Freshworks during the 3rd quarter valued at about $57,000. Finally, Nisa Investment Advisors LLC lifted its holdings 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 worth $71,000 after acquiring an additional 2,223 shares during the period. 75.58% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
FRSH has been the topic of several recent analyst reports. JMP Securities increased their target price on shares of Freshworks from $21.00 to $24.00 and gave the stock a "market outperform" rating in a research note on Thursday, November 7th. Canaccord Genuity Group lifted their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Morgan Stanley lifted their price objective on Freshworks from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Robert W. Baird cut their price objective on shares of Freshworks from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. Finally, Piper Sandler upped their price target on shares of Freshworks from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.07.
Get Our Latest Stock Analysis on FRSH
Freshworks Company Profile
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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.
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