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 stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $16.74, for a total transaction of $78,510.60. Following the transaction, the director now owns 36,689 shares of the company’s stock, valued at $614,173.86. This represents a 11.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Freshworks Price Performance

Shares of FRSH opened at $16.89 on Friday. The firm’s 50 day simple moving average is $14.00 and its 200 day simple moving average is $12.79. The company has a market capitalization of $5.12 billion, a P/E ratio of -49.68 and a beta of 0.90. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $24.98.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Freshworks in a research report on Thursday, November 7th. JMP Securities increased their target price on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group raised their price objective on shares of Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler raised their price objective on shares of Freshworks from $13.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Freshworks has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Institutional Investors Weigh In On Freshworks

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank raised its stake in shares of Freshworks by 29.1% during the second quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock worth $90,000 after acquiring an additional 1,588 shares in the last quarter. Covestor Ltd raised its stake in shares of Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares in the last quarter. Quarry LP raised its stake in shares of Freshworks by 157.6% during the second quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after acquiring an additional 2,645 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Freshworks by 1,987.3% during the third quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after acquiring an additional 2,822 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Freshworks by 554.5% during the second quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after acquiring an additional 2,878 shares in the last quarter. 75.58% of the stock is owned by hedge funds and other 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.