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

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $14.69, for a total value of $123,880.77. Following the transaction, the director now owns 24,890 shares in the company, valued at approximately $365,634.10. The trade was a 25.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 3rd, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $16.72, for a total value of $140,999.76.

Freshworks Stock Down 1.5 %

Shares of Freshworks stock opened at $14.28 on Wednesday. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The company has a market capitalization of $4.31 billion, a P/E ratio of -44.63 and a beta of 0.97. The company has a 50 day moving average of $14.24 and a 200 day moving average of $15.47.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, April 29th. The company reported $0.18 EPS 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 firm had revenue of $196.27 million during the quarter, compared to the consensus estimate of $191.90 million. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The company’s revenue was up 18.9% compared to the same quarter last year. As a group, research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FRSH shares. Oppenheimer dropped their price objective on shares of Freshworks from $24.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group decreased their price objective on Freshworks from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, March 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price target on shares of Freshworks in a research note on Wednesday, April 30th. Morgan Stanley boosted their price objective on shares of Freshworks from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, May 1st. Finally, UBS Group dropped their price target on shares of Freshworks from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.21.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FRSH. Vanguard Group Inc. increased its stake in Freshworks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company’s stock valued at $405,283,000 after purchasing an additional 1,357,526 shares during the last quarter. Eminence Capital LP purchased a new position in shares of Freshworks in the 4th quarter valued at $86,002,000. Geode Capital Management LLC raised its stake in Freshworks by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,673,600 shares of the company’s stock worth $75,588,000 after acquiring an additional 79,388 shares in the last quarter. TPG GP A LLC lifted its position in Freshworks by 28.7% in the fourth quarter. TPG GP A LLC now owns 4,346,855 shares of the company’s stock valued at $70,289,000 after acquiring an additional 969,283 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock valued at $44,934,000 after acquiring an additional 604,658 shares in 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.