Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor Sells 4,690 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $11.06, for a total transaction of $51,871.40. Following the completion of the transaction, the director now owns 36,689 shares of the company’s stock, valued at approximately $405,780.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Freshworks Trading Up 2.8 %

Shares of FRSH stock opened at $11.47 on Friday. The stock’s 50-day moving average price is $11.39 and its 200-day moving average price is $13.42. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $24.98. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -28.68 and a beta of 0.73.

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

Hedge Funds Weigh In On Freshworks

Several institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted 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 valued at $54,000 after purchasing an additional 757 shares during the last quarter. CWM LLC raised its holdings in Freshworks by 554.5% during the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after buying an additional 2,878 shares during the period. Quarry LP lifted its holdings in shares of Freshworks by 157.6% in the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after acquiring an additional 2,645 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Freshworks during the 1st quarter worth about $82,000. Finally, International Assets Investment Management LLC bought a new position in Freshworks during the 2nd quarter valued at about $58,000. Institutional investors own 75.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FRSH shares. Cantor Fitzgerald decreased their target price on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Canaccord Genuity Group reduced their target price on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Piper Sandler dropped their price target on shares of Freshworks from $17.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday. Jefferies Financial Group reduced their price objective on Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Scotiabank lowered their target price on Freshworks from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

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.