Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson Sells 8,433 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total value of $133,663.05. Following the completion of the sale, the director now directly owns 24,187 shares of the company’s stock, valued at approximately $383,363.95. This represents a 25.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Zachary Nelson also recently made the following trade(s):

• On Monday, November 4th, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $12.19, for a total value of $102,798.27.

Freshworks Price Performance

Shares of FRSH opened at $16.07 on Monday. The company’s 50-day simple moving average is $15.51 and its 200-day simple moving average is $13.15. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $23.93.

Institutional Investors Weigh In On Freshworks

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in shares of Freshworks by 35.9% during the second quarter. Bank of New York Mellon Corp now owns 1,588,968 shares of the company’s stock worth $20,164,000 after acquiring an additional 420,135 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Freshworks by 32.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,047 shares of the company’s stock worth $470,000 after purchasing an additional 9,180 shares during the period. Principal Financial Group Inc. raised its position in Freshworks by 26.4% in the 2nd quarter. Principal Financial Group Inc. now owns 27,541 shares of the company’s stock valued at $349,000 after purchasing an additional 5,745 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Freshworks in the 2nd quarter valued at about $58,000. Finally, Rhumbline Advisers grew its position in shares of Freshworks by 23.9% during the second quarter. Rhumbline Advisers now owns 281,379 shares of the company’s stock worth $3,571,000 after buying an additional 54,293 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JMP Securities boosted their price target on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Robert W. Baird decreased their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Piper Sandler raised their target price on Freshworks from $13.00 to $18.00 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.