Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Zachary Nelson sold 8,433 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total value of $133,663.05. Following the transaction, the director now directly owns 24,187 shares in the company, valued at $383,363.95. This trade represents a 25.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Zachary Nelson also recently made the following trade(s):
- On Monday, November 4th, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $12.19, for a total value of $102,798.27.
Freshworks Trading Up 1.1 %
FRSH traded up $0.17 during trading on Friday, reaching $16.07. The stock had a trading volume of 2,900,193 shares, compared to its average volume of 2,864,296. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -47.26 and a beta of 0.90. The stock's 50 day moving average is $15.51 and its two-hundred day moving average is $13.14. Freshworks Inc. has a one year low of $10.81 and a one year high of $23.93.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on FRSH. Needham & Company LLC reissued a "buy" rating and set a $20.00 price objective on shares of Freshworks in a research note on Tuesday, December 17th. Canaccord Genuity Group increased 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. Piper Sandler boosted their price objective on shares of Freshworks from $13.00 to $18.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. 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 report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their target price on Freshworks from $17.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Freshworks has a consensus rating of "Moderate Buy" and a consensus price target of $18.69.
Check Out Our Latest Stock Report on Freshworks
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of FRSH. Bank of New York Mellon Corp lifted its stake in shares of Freshworks by 35.9% in the second quarter. Bank of New York Mellon Corp now owns 1,588,968 shares of the company's stock worth $20,164,000 after buying an additional 420,135 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Freshworks by 32.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,047 shares of the company's stock valued at $470,000 after purchasing an additional 9,180 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Freshworks by 26.4% during the second quarter. Principal Financial Group Inc. now owns 27,541 shares of the company's stock valued at $349,000 after buying an additional 5,745 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Freshworks in the 2nd quarter worth about $58,000. Finally, Rhumbline Advisers raised its position in Freshworks by 23.9% in the 2nd quarter. Rhumbline Advisers now owns 281,379 shares of the company's stock worth $3,571,000 after buying an additional 54,293 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors.
Freshworks Company Profile
(
Get Free Report)
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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