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

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $12.19, for a total transaction of $102,798.27. Following the completion of the sale, the director now directly owns 23,497 shares of the company’s stock, valued at $286,428.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, October 2nd, Zachary Nelson sold 8,442 shares of Freshworks stock. The shares were sold at an average price of $11.04, for a total value of $93,199.68.
• On Tuesday, September 3rd, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $11.54, for a total value of $97,316.82.

Freshworks Stock Performance

NASDAQ FRSH opened at $16.82 on Friday. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $24.98. The firm has a market capitalization of $5.08 billion, a P/E ratio of -49.47 and a beta of 0.72. The stock has a 50-day simple moving average of $11.55 and a two-hundred day simple moving average of $12.63.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $186.58 million during the quarter, compared to the consensus estimate of $181.50 million. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. As a group, analysts forecast that Freshworks Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FRSH. JPMorgan Chase & Co. boosted their target price on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday. Canaccord Genuity Group boosted their price objective on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Freshworks in a research report on Thursday. Barclays lowered their price objective on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price target on Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.69.

Institutional Investors Weigh In On Freshworks

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Freshworks by 1,987.3% in the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after purchasing an additional 2,822 shares during the period. Advisors Asset Management Inc. grew its stake in Freshworks by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after acquiring an additional 757 shares during the period. CWM LLC increased its holdings in Freshworks by 554.5% in the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after acquiring an additional 2,878 shares in the last quarter. Covestor Ltd increased its holdings in Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares in the last quarter. Finally, Quarry LP raised its position in Freshworks by 157.6% during the second quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after acquiring an additional 2,645 shares during the period. 75.58% of the stock is owned by hedge funds and other institutional investors.

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.