Freshworks (NASDAQ:FRSH) CEO Dennis Woodside Purchases 176,100 Shares

Freshworks Inc. (NASDAQ:FRSH) CEO Dennis Woodside purchased 176,100 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average price of $11.31 per share, for a total transaction of $1,991,691.00. Following the acquisition, the chief executive officer owned 2,111,517 shares of the company’s stock, valued at approximately $23,881,257.27. The trade was a 9.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Freshworks Price Performance

Shares of NASDAQ FRSH opened at $11.64 on Thursday. The firm has a market cap of $3.39 billion, a P/E ratio of -116.39 and a beta of 0.90. Freshworks Inc. has a twelve month low of $10.51 and a twelve month high of $19.77. The company has a 50 day moving average of $11.81 and a 200 day moving average of $13.49.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Thursday, September 11th. The company reported $0.18 EPS for the quarter. Freshworks had a negative return on equity of 0.37% and a negative net margin of 3.65%.The business had revenue of $204.68 million during the quarter. As a group, equities analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FRSH. Canaccord Genuity Group decreased their target price on Freshworks from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Zacks Research upgraded shares of Freshworks from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Robert W. Baird decreased their price objective on shares of Freshworks from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Morgan Stanley lowered their price objective on shares of Freshworks from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, September 12th. Finally, Wall Street Zen raised shares of Freshworks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.38.

Hedge Funds Weigh In On Freshworks

Several institutional investors have recently made changes to their positions in FRSH. Vanguard Group Inc. boosted its holdings in shares of Freshworks by 4.5% in the first quarter. Vanguard Group Inc. now owns 26,189,892 shares of the company’s stock worth $369,539,000 after buying an additional 1,126,013 shares during the last quarter. Eminence Capital LP raised its position in Freshworks by 39.4% in the second quarter. Eminence Capital LP now owns 7,334,601 shares of the company’s stock worth $109,359,000 after acquiring an additional 2,074,641 shares during the period. Geode Capital Management LLC boosted its stake in shares of Freshworks by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,856,163 shares of the company’s stock worth $72,414,000 after acquiring an additional 75,688 shares during the last quarter. State Street Corp boosted its stake in shares of Freshworks by 2.1% during the 2nd quarter. State Street Corp now owns 4,850,487 shares of the company’s stock worth $72,321,000 after acquiring an additional 101,132 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of Freshworks by 27.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,951,115 shares of the company’s stock valued at $55,750,000 after acquiring an additional 862,315 shares during the period. Institutional investors own 75.58% of the company’s stock.

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.