Johanna Flower Sells 21,400 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Johanna Flower sold 21,400 shares of Freshworks stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $18.00, for a total value of $385,200.00. Following the sale, the director now directly owns 41,491 shares of the company’s stock, valued at $746,838. This represents a 34.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Freshworks Trading Up 9.8 %

FRSH opened at $19.75 on Wednesday. The company has a market cap of $5.98 billion, a P/E ratio of -58.09 and a beta of 0.88. The business’s 50-day moving average price is $16.47 and its 200-day moving average price is $13.69. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $23.30.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FRSH. Robert W. Baird dropped their price objective on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Morgan Stanley raised their price target on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Wells Fargo & Company downgraded Freshworks from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $16.00 to $13.00 in a research report on Tuesday, January 21st. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Freshworks in a research report on Wednesday, January 15th. Finally, JMP Securities raised their price target on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. One investment 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.07.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Blue Trust Inc. raised its position in Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after purchasing an additional 954 shares during the last quarter. Amalgamated Bank raised its position in Freshworks by 29.1% during the 2nd quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock valued at $90,000 after purchasing an additional 1,588 shares during the last quarter. Covestor Ltd raised its position in 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 purchasing an additional 1,704 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after purchasing an additional 2,223 shares during the last quarter. Finally, Quarry LP raised its position in 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 purchasing an additional 2,645 shares during the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

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.