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

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $15.49, for a total value of $72,570.65. Following the transaction, the director now owns 37,286 shares of the company’s stock, valued at $577,560.14. This represents a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Freshworks Stock Performance

Shares of FRSH stock opened at $16.77 on Thursday. The stock has a market cap of $5.08 billion, a PE ratio of -49.32 and a beta of 0.88. The business’s fifty day moving average is $16.14 and its 200-day moving average is $13.35. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $23.64.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FRSH. Canaccord Genuity Group raised their target price on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JMP Securities lifted their price objective on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Piper Sandler lifted their price target on Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Morgan Stanley increased their price objective on Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.08.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP lifted its holdings in Freshworks by 80.1% in the 3rd quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock valued at $4,895,000 after acquiring an additional 189,616 shares during the last quarter. Sei Investments Co. lifted its stake in Freshworks by 191.9% during the second quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock valued at $1,216,000 after purchasing an additional 63,006 shares during the last quarter. Barclays PLC boosted its holdings in Freshworks by 33.4% during the third quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after buying an additional 84,568 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Freshworks during the third quarter worth approximately $1,193,000. Finally, Intech Investment Management LLC acquired a new position in Freshworks in the third quarter worth approximately $867,000. 75.58% of the stock is owned by institutional investors and hedge funds.

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.