Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Insider Sells 2,859 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total value of $45,286.56. Following the transaction, the insider now directly owns 400,249 shares in the company, valued at $6,339,944.16. This represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mika Yamamoto also recently made the following trade(s):

• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The shares were sold at an average price of $16.95, for a total value of $96,920.10.

Freshworks Trading Up 1.1 %

Shares of NASDAQ FRSH opened at $16.07 on Friday. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of -47.26 and a beta of 0.90. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $23.93. The stock’s 50-day moving average is $15.51 and its 200 day moving average is $13.15.

Hedge Funds Weigh In On Freshworks

Large investors have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after buying an additional 2,822 shares in the last quarter. Covestor Ltd raised its holdings in shares of Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares in the last quarter. Quarry LP raised its holdings in shares of Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after buying an additional 2,645 shares in the last quarter. International Assets Investment Management LLC bought a new position in Freshworks during the 2nd quarter worth approximately $58,000. Finally, Point72 Hong Kong Ltd bought a new position in Freshworks during the 3rd quarter worth approximately $57,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FRSH shares. Robert W. Baird dropped their price target on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Piper Sandler increased their price objective on Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Canaccord Genuity Group raised 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. JPMorgan Chase & Co. raised their target price on Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price on Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.