Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett Sells 2,345 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett sold 2,345 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total value of $40,568.50. Following the transaction, the director now directly owns 26,957 shares in the company, valued at $466,356.10. This trade represents a 8.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Freshworks Trading Down 1.7 %

Shares of NASDAQ FRSH opened at $15.40 on Friday. The stock has a fifty day simple moving average of $14.51 and a 200-day simple moving average of $12.89. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $24.59. The stock has a market capitalization of $4.66 billion, a PE ratio of -45.29 and a beta of 0.90.

Hedge Funds Weigh In On Freshworks

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of Freshworks by 1,987.3% during the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after acquiring an additional 2,822 shares during the period. Covestor Ltd boosted its stake in shares of Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares during the period. CWM LLC grew its position in shares of Freshworks by 554.5% during the second quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after buying an additional 2,878 shares in the last quarter. Quarry LP raised its holdings in Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after acquiring an additional 2,645 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Freshworks in the third quarter valued at approximately $57,000. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FRSH shares. Canaccord Genuity Group lifted their price target on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Freshworks in a research note on Tuesday. Wells Fargo & Company increased their price target on shares of Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. JMP Securities lifted their price target on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird lowered their price objective on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.69.

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.