Freshworks Inc. (NASDAQ:FRSH) Director Sells 4,685 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total transaction of $52,331.45. Following the sale, the director now directly owns 35,853 shares in the company, valued at approximately $400,478.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Freshworks Trading Down 0.4 %

Shares of NASDAQ:FRSH opened at $11.19 on Thursday. Freshworks Inc. has a 12-month low of $10.96 and a 12-month high of $24.98. The stock has a fifty day simple moving average of $12.16 and a two-hundred day simple moving average of $14.59. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -27.98 and a beta of 0.73.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, July 30th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The business had revenue of $174.13 million for the quarter, compared to the consensus estimate of $169.05 million. During the same period last year, the business posted ($0.12) EPS. The company’s revenue was up 20.0% compared to the same quarter last year. As a group, equities research analysts predict that Freshworks Inc. will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Capital International Investors bought a new stake in shares of Freshworks during the 1st quarter valued at $59,311,000. Clearbridge Investments LLC grew its holdings in shares of Freshworks by 107.4% in the first quarter. Clearbridge Investments LLC now owns 4,050,733 shares of the company’s stock worth $73,764,000 after purchasing an additional 2,097,280 shares during the last quarter. Norges Bank bought a new stake in Freshworks during the 4th quarter valued at about $44,919,000. Vanguard Group Inc. grew its stake in Freshworks by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock worth $385,525,000 after acquiring an additional 1,354,530 shares in the last quarter. Finally, Stanley Laman Group Ltd. purchased a new position in shares of Freshworks during the second quarter worth approximately $9,133,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Scotiabank decreased their price target on Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Freshworks in a research note on Wednesday, July 31st. Barclays lowered their target price on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Jefferies Financial Group lowered their price target on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, StockNews.com lowered Freshworks from a “buy” rating to a “hold” rating in a research report on Saturday, June 22nd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Freshworks currently has an average rating of “Moderate Buy” and an average target price of $18.69.

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.