Freshworks Inc. (NASDAQ:FRSH) CRO Jose Morales Sells 1,984 Shares

Freshworks Inc. (NASDAQ:FRSHGet Rating) CRO Jose Morales sold 1,984 shares of the company’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $20.00, for a total transaction of $39,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

NASDAQ:FRSH traded down $0.50 during trading hours on Thursday, hitting $17.86. 1,307,910 shares of the stock were exchanged, compared to its average volume of 2,595,710. The business’s fifty day simple moving average is $18.70. Freshworks Inc. has a 52-week low of $15.60 and a 52-week high of $53.36.

Freshworks (NASDAQ:FRSHGet Rating) last posted its quarterly earnings data on Thursday, February 10th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The firm had revenue of $105.48 million during the quarter, compared to analyst estimates of $100.34 million. The business’s revenue for the quarter was up 44.5% on a year-over-year basis. Analysts anticipate that Freshworks Inc. will post -0.78 earnings per share for the current year.

A number of equities analysts have weighed in on the company. Piper Sandler lowered their price target on Freshworks from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, February 11th. Morgan Stanley dropped their price target on Freshworks from $43.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, March 4th. Robert W. Baird decreased their price objective on Freshworks from $50.00 to $40.00 in a report on Friday, February 11th. Canaccord Genuity Group reduced their target price on Freshworks from $50.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, February 14th. Finally, Jefferies Financial Group dropped their price target on shares of Freshworks from $50.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, January 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.38.

A number of institutional investors have recently modified their holdings of FRSH. Cubist Systematic Strategies LLC acquired a new position in shares of Freshworks in the 3rd quarter valued at $27,000. Moors & Cabot Inc. bought a new stake in shares of Freshworks in the 3rd quarter worth about $506,000. Atom Investors LP bought a new stake in shares of Freshworks during the 3rd quarter valued at about $268,000. Squarepoint Ops LLC bought a new stake in shares of Freshworks during the 3rd quarter valued at about $305,000. Finally, CNH Partners LLC acquired a new position in Freshworks during the 3rd quarter valued at about $317,000. 20.39% of the stock is owned by institutional investors.

Freshworks Company Profile (Get Rating)

Freshworks Inc develops software solutions for businesses worldwide. It offers Freshdesk, a solution that empower the support team to work together and resolve customer issues; Freshworks CRM, a solution that keep sales team in the know about prospects and close deals; Freshworks 360, a sales, support, marketing, and success platform; and Freshservice, a solution to streamline information technology service and manage internal requests from the employees.

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