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

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 7,035 shares of the stock in a transaction that occurred 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 transaction, 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 is accessible through this hyperlink.

Freshworks Price Performance

Freshworks stock opened at $18.28 on Friday. The stock’s fifty day moving average price is $19.43 and its two-hundred day moving average price is $20.13. Freshworks Inc. has a one year low of $12.22 and a one year high of $24.98. The firm has a market cap of $5.45 billion, a PE ratio of -38.89 and a beta of 0.90.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.09) EPS for the quarter, topping 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%. Sell-side analysts expect that Freshworks Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Freshworks

A number of large investors have recently modified their holdings of the business. Renaissance Capital LLC boosted its holdings in shares of Freshworks by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 105,697 shares of the company’s stock valued at $1,925,000 after purchasing an additional 3,071 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Freshworks by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 19,816,514 shares of the company’s stock valued at $465,490,000 after purchasing an additional 1,285,713 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Freshworks by 157.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 591,847 shares of the company’s stock valued at $13,902,000 after purchasing an additional 361,715 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Freshworks by 2.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,673,633 shares of the company’s stock valued at $62,804,000 after purchasing an additional 58,551 shares in the last quarter. Finally, FACT Capital LP boosted its holdings in shares of Freshworks by 9.3% in the 4th quarter. FACT Capital LP now owns 764,373 shares of the company’s stock valued at $17,955,000 after purchasing an additional 64,957 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.

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.