Freshworks Inc. (NASDAQ:FRSH) Director Sells $72,570.65 in Stock

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction on Friday, January 10th. The shares were sold at an average price of $15.49, for a total value of $72,570.65. Following the completion of the transaction, the director now owns 37,286 shares in the company, valued at $577,560.14. The trade was a 11.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Freshworks Stock Performance

Shares of Freshworks stock opened at $16.77 on Thursday. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $23.64. The firm’s 50-day simple moving average is $16.14 and its 200-day simple moving average is $13.35. The firm has a market cap of $5.08 billion, a PE ratio of -49.32 and a beta of 0.88.

Institutional Trading of Freshworks

Several institutional investors and hedge funds have recently bought and sold shares of FRSH. Everence Capital Management Inc. bought a new stake in shares of Freshworks in the 4th quarter valued at approximately $190,000. JPMorgan Chase & Co. boosted its holdings in Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock worth $60,503,000 after purchasing an additional 1,752,995 shares during the period. Franklin Resources Inc. boosted its holdings in Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock worth $44,934,000 after purchasing an additional 604,658 shares during the period. Tidal Investments LLC bought a new stake in Freshworks during the third quarter valued at $534,000. Finally, Geode Capital Management LLC raised its holdings 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 worth $52,750,000 after purchasing an additional 66,342 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FRSH shares. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a report on Wednesday. Robert W. Baird reduced their price target on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of Freshworks from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Piper Sandler upped their price target on shares of Freshworks from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.08.

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.