Freshworks Inc. (NASDAQ:FRSH) Insider Sells $96,920.10 in Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 5,718 shares of Freshworks stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $16.95, for a total value of $96,920.10. Following the completion of the sale, the insider now directly owns 403,108 shares in the company, valued at $6,832,680.60. This represents a 1.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Freshworks Trading Down 0.5 %

FRSH stock opened at $15.33 on Friday. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $24.34. The business’s 50 day simple moving average is $14.59 and its 200 day simple moving average is $12.91. The firm has a market capitalization of $4.64 billion, a PE ratio of -45.09 and a beta of 0.90.

Wall Street Analysts Forecast Growth

FRSH has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a research report on Tuesday, December 17th. Canaccord Genuity Group increased their target price on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price objective 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. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Freshworks currently has an average rating of “Moderate Buy” and an average target price of $18.69.

Hedge Funds Weigh In On Freshworks

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP lifted its stake in shares of Freshworks by 80.1% during the 3rd quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock worth $4,895,000 after buying an additional 189,616 shares during the last quarter. Sei Investments Co. lifted its position in Freshworks by 191.9% during the second quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock worth $1,216,000 after acquiring an additional 63,006 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Freshworks during the third quarter worth approximately $1,193,000. Intech Investment Management LLC acquired a new position in shares of Freshworks in the third quarter valued at approximately $867,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Freshworks by 806.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock worth $2,699,000 after purchasing an additional 209,194 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.