Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Director Sells 6,303 Shares of Stock

Freshworks Inc. (NASDAQ:FRSHGet Free Report) Director Roxanne S. Austin sold 6,303 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $21.54, for a total transaction of $135,766.62. Following the completion of the transaction, the director now directly owns 88,431 shares of the company’s stock, valued at $1,904,803.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Freshworks Stock Up 1.6 %

Shares of FRSH opened at $21.71 on Monday. The company has a market capitalization of $6.41 billion, a P/E ratio of -46.19 and a beta of 0.99. The firm has a 50 day moving average of $22.47 and a 200 day moving average of $20.72. Freshworks Inc. has a twelve month low of $12.22 and a twelve month high of $24.98.

Institutional Investors Weigh In On Freshworks

Several institutional investors and hedge funds have recently made changes to their positions in FRSH. Bank of New York Mellon Corp boosted its holdings in Freshworks by 3,770.9% in the first quarter. Bank of New York Mellon Corp now owns 597,595 shares of the company’s stock worth $10,709,000 after purchasing an additional 582,157 shares during the last quarter. US Bancorp DE boosted its holdings in Freshworks by 1,141.4% in the first quarter. US Bancorp DE now owns 8,044 shares of the company’s stock worth $144,000 after purchasing an additional 7,396 shares during the last quarter. Citigroup Inc. purchased a new stake in Freshworks in the first quarter worth approximately $255,000. Cibc World Market Inc. purchased a new stake in Freshworks in the first quarter worth approximately $887,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Freshworks in the first quarter worth approximately $267,000. Institutional investors own 57.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FRSH shares. Barclays decreased their price target on shares of Freshworks from $25.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 1st. Morgan Stanley decreased their price target on shares of Freshworks from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 1st. UBS Group decreased their target price on shares of Freshworks from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. JMP Securities raised their target price on shares of Freshworks from $25.00 to $29.00 and gave the company a “market outperform” rating in a research note on Wednesday, February 7th. Finally, Piper Sandler raised their target price on shares of Freshworks from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Freshworks currently has an average rating of “Moderate Buy” and a consensus target price of $24.88.

View Our Latest Report on FRSH

About Freshworks

(Get Free Report)

Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. It offers Freshdesk Support Desk that enables businesses to delight their customers at every service engagement touchpoint across traditional channels, including email, and modern channels, such as messaging and social media; Freshdesk Contact Center that offers agents with cloud-based telephony system to connect with customers that supports complex call-flows, number and call management, IVR, and routing needs, as well as live dashboard and reports; and Freshdesk Customer Success, which helps customer success managers at business to business (B2B) subscription companies.

Featured Stories

Insider Buying and Selling by Quarter for Freshworks (NASDAQ:FRSH)

Receive News & Ratings for Freshworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshworks and related companies with MarketBeat.com's FREE daily email newsletter.