Freshworks Inc. (NASDAQ:FRSH) Insider Mika Yamamoto Sells 2,859 Shares

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) insider Mika Yamamoto sold 2,859 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.84, for a total value of $45,286.56. Following the completion of the sale, the insider now directly owns 400,249 shares in the company, valued at $6,339,944.16. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The stock was sold at an average price of $16.95, for a total transaction of $96,920.10.

Freshworks Stock Up 1.1 %

Freshworks stock traded up $0.17 during mid-day trading on Friday, hitting $16.07. The company's stock had a trading volume of 2,900,193 shares, compared to its average volume of 2,864,296. The stock has a market capitalization of $4.87 billion, a P/E ratio of -47.26 and a beta of 0.90. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $23.93. The stock's fifty day moving average price is $15.51 and its two-hundred day moving average price is $13.14.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JMP Securities boosted their target price on shares of Freshworks from $21.00 to $24.00 and gave the company a "market outperform" rating in a research note on Thursday, November 7th. Canaccord Genuity Group boosted their price objective on Freshworks from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on Freshworks from $11.00 to $14.00 and gave the company an "equal weight" rating in a research report on Thursday, November 7th. Piper Sandler boosted their price target on Freshworks from $13.00 to $18.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $20.00 price target on shares of Freshworks in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.69.

Hedge Funds Weigh In On Freshworks

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Freshworks by 35.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,588,968 shares of the company's stock valued at $20,164,000 after purchasing an additional 420,135 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in 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 buying an additional 9,180 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Freshworks by 26.4% in the second quarter. Principal Financial Group Inc. now owns 27,541 shares of the company's stock worth $349,000 after buying an additional 5,745 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Freshworks in the second quarter worth approximately $58,000. Finally, Rhumbline Advisers raised its holdings in shares of Freshworks by 23.9% during the second quarter. Rhumbline Advisers now owns 281,379 shares of the company's stock valued at $3,571,000 after acquiring an additional 54,293 shares during the period. 75.58% of the stock is currently owned by institutional investors and hedge funds.

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.