Mika Yamamoto Sells 2,859 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.84, for a total value of $45,286.56. Following the completion of the sale, the insider now owns 400,249 shares of the company’s stock, valued at $6,339,944.16. The trade was a 0.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Mika Yamamoto also recently made the following trade(s):

• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The shares were sold at an average price of $16.95, for a total value of $96,920.10.

Freshworks Stock Performance

NASDAQ FRSH traded up $0.17 during mid-day trading on Friday, reaching $16.07. 2,899,766 shares of the stock were exchanged, compared to its average volume of 2,737,896. The business’s 50 day moving average is $15.42 and its 200-day moving average is $13.11. The company has a market capitalization of $4.87 billion, a P/E ratio of -47.26 and a beta of 0.90. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $23.93.

Wall Street Analysts Forecast Growth

FRSH has been the topic of several recent analyst reports. Piper Sandler lifted 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. JMP Securities lifted their price target on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price target on shares of Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Canaccord Genuity Group raised their price objective on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird decreased their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Seven equities 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, Freshworks has an average rating of “Moderate Buy” and an average target price of $18.69.

Institutional Trading of Freshworks

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in Freshworks by 35.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,588,968 shares of the company’s stock valued at $20,164,000 after acquiring an additional 420,135 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Freshworks by 32.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,047 shares of the company’s stock worth $470,000 after purchasing an additional 9,180 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Freshworks by 26.4% in the 2nd quarter. Principal Financial Group Inc. now owns 27,541 shares of the company’s stock valued at $349,000 after buying an additional 5,745 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Freshworks in the 2nd quarter worth about $58,000. Finally, Rhumbline Advisers increased its stake in Freshworks by 23.9% during the 2nd quarter. Rhumbline Advisers now owns 281,379 shares of the company’s stock worth $3,571,000 after buying an additional 54,293 shares in the last quarter. 75.58% of the stock is currently 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.