Freshworks Inc. (NASDAQ:FRSH) Insider Mika Yamamoto Sells 1,765 Shares

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 1,765 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $15.50, for a total value of $27,357.50. Following the completion of the sale, the insider now owns 574,776 shares in the company, valued at approximately $8,909,028. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, June 2nd, Mika Yamamoto sold 3,574 shares of Freshworks stock. The shares were sold at an average price of $15.13, for a total value of $54,074.62.
• On Monday, May 5th, Mika Yamamoto sold 3,574 shares of Freshworks stock. The stock was sold at an average price of $14.66, for a total value of $52,394.84.
• On Tuesday, April 1st, Mika Yamamoto sold 3,574 shares of Freshworks stock. The shares were sold at an average price of $14.20, for a total value of $50,750.80.

Freshworks Stock Up 0.5%

NASDAQ:FRSH opened at $15.69 on Friday. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The company’s 50-day moving average price is $14.08 and its two-hundred day moving average price is $15.70. The firm has a market cap of $4.63 billion, a PE ratio of -49.03 and a beta of 0.97.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The business had revenue of $196.27 million during the quarter, compared to the consensus estimate of $191.90 million. During the same period in the previous year, the firm posted $0.10 earnings per share. Freshworks’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, research analysts expect that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshworks

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Freshworks by 18.1% during the first quarter. Rhumbline Advisers now owns 325,704 shares of the company’s stock worth $4,596,000 after purchasing an additional 49,873 shares during the last quarter. Strs Ohio acquired a new stake in shares of Freshworks during the 1st quarter worth about $830,000. Diker Management LLC lifted its stake in shares of Freshworks by 4.3% during the 1st quarter. Diker Management LLC now owns 120,526 shares of the company’s stock worth $1,701,000 after buying an additional 5,000 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Freshworks during the 1st quarter worth about $2,734,000. Finally, Intech Investment Management LLC raised its stake in Freshworks by 40.9% in the 1st quarter. Intech Investment Management LLC now owns 154,170 shares of the company’s stock worth $2,175,000 after purchasing an additional 44,761 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FRSH shares. Robert W. Baird set a $18.00 price objective on Freshworks in a research report on Wednesday, February 12th. Canaccord Genuity Group upped their price target on shares of Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley upped their price objective on shares of Freshworks from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, May 1st. Piper Sandler restated an “overweight” rating and issued a $22.00 target price (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of Freshworks in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.07.

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.