Freshworks Inc. (NASDAQ:FRSH) Director Sells $140,999.76 in Stock

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.72, for a total transaction of $140,999.76. Following the sale, the director now directly owns 24,187 shares in the company, valued at $404,406.64. This trade represents a 25.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Zachary Nelson also recently made the following trade(s):

• On Monday, February 3rd, Zachary Nelson sold 8,442 shares of Freshworks stock. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60.
• On Thursday, January 2nd, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $15.85, for a total transaction of $133,663.05.

Freshworks Trading Down 0.9 %

Shares of NASDAQ:FRSH traded down $0.15 on Friday, reaching $15.80. 2,999,764 shares of the company's stock were exchanged, compared to its average volume of 4,028,847. The company has a fifty day moving average of $17.23 and a 200-day moving average of $14.66. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -49.38 and a beta of 0.92.

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Freshworks (NASDAQ:FRSH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Scotiabank boosted their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. Piper Sandler upped their target price on shares of Freshworks from $20.00 to $24.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Morgan Stanley upped their target price on shares of Freshworks from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Oppenheimer upped their target price on shares of Freshworks from $22.00 to $24.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, UBS Group set a $22.00 target price on shares of Freshworks in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Freshworks currently has an average rating of "Moderate Buy" and a consensus target price of $21.14.

Institutional Trading of Freshworks

Several large investors have recently made changes to their positions in FRSH. Polar Asset Management Partners Inc. bought a new position in Freshworks in the 4th quarter valued at approximately $5,053,000. JT Stratford LLC lifted its stake in Freshworks by 41.6% in 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 last quarter. PharVision Advisers LLC bought a new position in Freshworks in the 4th quarter valued at approximately $370,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 valued at $5,994,000 after purchasing an additional 60,652 shares during the last quarter. Finally, Vident Advisory LLC bought a new position in shares of Freshworks during the fourth quarter valued at $316,000. Institutional investors and hedge funds own 75.58% of the company's stock.

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.