Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Director Sells $72,195.85 in Stock

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.41, for a total value of $72,195.85. Following the completion of the transaction, the director now owns 37,895 shares in the company, valued at $583,961.95. This trade represents a 11.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Freshworks Stock Down 1.5%

Shares of NASDAQ FRSH opened at $15.74 on Thursday. The business’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 $4.64 billion, a P/E ratio of -49.19 and a beta of 0.97. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77.

Freshworks (NASDAQ:FRSH) last announced its quarterly 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 company 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 company posted $0.10 earnings per share. Freshworks’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, research analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Avion Wealth acquired a new position in Freshworks in the fourth quarter valued at approximately $26,000. Blue Trust Inc. lifted its position in shares of 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 buying an additional 954 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after buying an additional 3,700 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Freshworks during the 1st quarter valued at approximately $70,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of 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 buying an additional 2,223 shares in the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wells Fargo & Company lifted their target price on Freshworks from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Wednesday, April 30th. Needham & Company LLC restated a “buy” rating and set a $25.00 price target on shares of Freshworks in a research note on Monday, March 17th. UBS Group dropped their price target on Freshworks from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. 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, Canaccord Genuity Group boosted their price target on Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average 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.