Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor Sells 4,685 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $11.17, for a total transaction of $52,331.45. Following the completion of the sale, the director now owns 35,853 shares of the company’s stock, valued at approximately $400,478.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Freshworks Stock Performance

NASDAQ FRSH opened at $11.19 on Thursday. The stock has a market cap of $3.34 billion, a PE ratio of -27.98 and a beta of 0.73. Freshworks Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $24.98. The firm’s fifty day moving average price is $12.16 and its two-hundred day moving average price is $14.59.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, July 30th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $174.13 million for the quarter, compared to analyst estimates of $169.05 million. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.12) EPS. As a group, sell-side analysts predict that Freshworks Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on FRSH. Barclays lowered their target price on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Freshworks in a research note on Wednesday, July 31st. Jefferies Financial Group cut their target price on Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Cantor Fitzgerald dropped their price target on Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.69.

Hedge Funds Weigh In On Freshworks

Hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its stake in shares of Freshworks by 554.5% in the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after purchasing an additional 2,878 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Freshworks by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after acquiring an additional 757 shares in the last quarter. Quarry LP grew its position in Freshworks by 157.6% in the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after purchasing an additional 2,645 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Freshworks during the second quarter valued at approximately $58,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Freshworks during the 1st quarter valued at $82,000. 75.58% of the stock is currently owned by institutional investors.

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.