Jennifer H. Taylor Sells 7,035 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 7,035 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $18.08, for a total value of $127,192.80. Following the sale, the director now directly owns 19,991 shares of the company’s stock, valued at $361,437.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Freshworks Stock Up 1.8 %

FRSH opened at $18.28 on Friday. The firm has a market capitalization of $5.45 billion, a P/E ratio of -38.89 and a beta of 0.90. The stock’s 50 day moving average price is $19.43 and its two-hundred day moving average price is $20.13. Freshworks Inc. has a 12-month low of $12.22 and a 12-month high of $24.98.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The firm had revenue of $160.11 million for the quarter, compared to analyst estimates of $158.11 million. Freshworks had a negative return on equity of 12.55% and a negative net margin of 23.04%. As a group, analysts anticipate that Freshworks Inc. will post -0.37 earnings per share for the current year.

Institutional Trading of Freshworks

Several institutional investors have recently modified their holdings of FRSH. BlackRock Inc. grew its holdings in shares of Freshworks by 210.2% during the 2nd quarter. BlackRock Inc. now owns 11,984,191 shares of the company’s stock worth $210,682,000 after purchasing an additional 8,120,351 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Freshworks by 37.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,599,434 shares of the company’s stock worth $163,415,000 after purchasing an additional 3,460,129 shares in the last quarter. State Street Corp grew its holdings in shares of Freshworks by 239.7% during the 2nd quarter. State Street Corp now owns 3,294,195 shares of the company’s stock worth $57,912,000 after purchasing an additional 2,324,432 shares in the last quarter. Soros Fund Management LLC acquired a new stake in shares of Freshworks during the 1st quarter worth approximately $34,883,000. Finally, Norges Bank acquired a new stake in shares of Freshworks during the 4th quarter worth approximately $44,919,000. Institutional investors and hedge funds own 75.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FRSH. Jefferies Financial Group raised Freshworks from a “hold” rating to a “buy” rating and upped their target price for the company from $20.00 to $30.00 in a report on Friday, January 5th. Needham & Company LLC upped their target price on Freshworks from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 28th. Piper Sandler increased their price objective on Freshworks from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. JMP Securities increased their price objective on Freshworks from $25.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Wednesday, February 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price objective on shares of Freshworks in a research note on Wednesday, February 7th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

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.