Freshworks Inc. (NASDAQ:FRSH) Insider Mika Yamamoto Sells 5,718 Shares

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) insider Mika Yamamoto sold 5,718 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $16.95, for a total value of $96,920.10. Following the sale, the insider now directly owns 403,108 shares of the company's stock, valued at approximately $6,832,680.60. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Freshworks Stock Performance

NASDAQ FRSH traded down $0.26 during trading hours on Thursday, reaching $15.40. The company's stock had a trading volume of 4,591,573 shares, compared to its average volume of 2,987,847. The stock has a market cap of $4.66 billion, a PE ratio of -45.29 and a beta of 0.90. The company's 50-day moving average is $14.43 and its two-hundred day moving average is $12.87. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $24.59.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Franklin Resources Inc. grew its holdings in Freshworks by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company's stock valued at $44,934,000 after buying an additional 604,658 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Freshworks in the third quarter valued at $534,000. Geode Capital Management LLC boosted its stake in shares of Freshworks by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company's stock valued at $52,750,000 after acquiring an additional 66,342 shares during the last quarter. Barclays PLC increased its position in Freshworks by 33.4% during the 3rd quarter. Barclays PLC now owns 337,621 shares of the company's stock worth $3,875,000 after purchasing an additional 84,568 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in Freshworks by 4.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 132,261 shares of the company's stock valued at $1,518,000 after purchasing an additional 5,901 shares during the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FRSH has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Freshworks from $17.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Robert W. Baird reduced their price objective on shares of Freshworks from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on Freshworks from $11.00 to $14.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Canaccord Genuity Group increased their target price on Freshworks from $17.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, JMP Securities lifted their price target on Freshworks from $21.00 to $24.00 and gave the company a "market outperform" rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Freshworks currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.69.

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.