Sameer K. Gandhi Acquires 346,103 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSHGet Rating) Director Sameer K. Gandhi bought 346,103 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were purchased at an average price of $14.78 per share, with a total value of $5,115,402.34. Following the completion of the acquisition, the director now directly owns 1,258,930 shares in the company, valued at $18,606,985.40. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Freshworks Stock Down 4.6 %

FRSH stock opened at $13.39 on Friday. The business has a 50 day moving average price of $14.24 and a 200 day moving average price of $15.45. The stock has a market cap of $3.83 billion and a price-to-earnings ratio of -0.53. Freshworks Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $53.36.

Analysts Set New Price Targets

FRSH has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered their target price on Freshworks from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Morgan Stanley decreased their price objective on Freshworks from $23.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Wolfe Research lifted their price objective on Freshworks from $14.00 to $15.50 and gave the company an “outperform” rating in a research note on Thursday, August 4th. Oppenheimer decreased their price objective on Freshworks from $26.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, August 3rd. Finally, Robert W. Baird decreased their price objective on Freshworks to $20.00 in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.23.

Institutional Investors Weigh In On Freshworks

Several institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in Freshworks by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 332,720 shares of the company’s stock worth $8,737,000 after buying an additional 1,603 shares during the period. FourThought Financial LLC acquired a new position in Freshworks during the first quarter worth approximately $47,000. Quantbot Technologies LP acquired a new position in Freshworks during the first quarter worth approximately $59,000. Ieq Capital LLC increased its position in Freshworks by 6.0% during the second quarter. Ieq Capital LLC now owns 70,459 shares of the company’s stock worth $927,000 after buying an additional 4,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Freshworks by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 172,199 shares of the company’s stock worth $3,086,000 after buying an additional 4,202 shares during the period. Hedge funds and other institutional investors own 31.25% of the company’s stock.

Freshworks Company Profile

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Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. Freshworks Inc was formerly known as Freshdesk Inc and changed its name to Freshworks Inc in June 2017. The company was incorporated in 2010 and is headquartered in San Mateo, California.

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