Freshworks Inc. (NASDAQ:FRSH) Director Roxanne S. Austin Sells 6,303 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Roxanne S. Austin sold 6,303 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $14.75, for a total value of $92,969.25. Following the transaction, the director now owns 169,586 shares in the company, valued at $2,501,393.50. The trade was a 3.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Freshworks Stock Performance

FRSH stock opened at $15.98 on Wednesday. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The stock’s 50 day moving average price is $14.10 and its 200 day moving average price is $15.59. The firm has a market cap of $4.71 billion, a P/E ratio of -49.94 and a beta of 0.97.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FRSH. Eminence Capital LP purchased a new position in shares of Freshworks during the 4th quarter worth $86,002,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Freshworks during the 4th quarter worth $61,530,000. Norges Bank purchased a new position in shares of Freshworks during the 4th quarter worth $57,527,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Freshworks during the 4th quarter worth $49,946,000. Finally, Nuveen LLC purchased a new position in shares of Freshworks during the 1st quarter worth $35,129,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Analysts Set New Price Targets

FRSH has been the topic of several research analyst reports. Oppenheimer decreased their price target on Freshworks from $24.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Cantor Fitzgerald boosted their price target on Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Piper Sandler reissued an “overweight” rating and set a $22.00 price target (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Morgan Stanley boosted their price target on Freshworks from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $25.00 price target 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.21.

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.