Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Director Sells 1,450 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) Director Johanna Flower sold 1,450 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $18.01, for a total value of $26,114.50. Following the completion of the transaction, the director now owns 41,491 shares in the company, valued at approximately $747,252.91. This trade represents a 3.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Johanna Flower also recently made the following trade(s):

• On Thursday, January 23rd, Johanna Flower sold 21,400 shares of Freshworks stock. The stock was sold at an average price of $18.00, for a total value of $385,200.00.

Freshworks Stock Down 0.6 %

NASDAQ:FRSH opened at $17.20 on Tuesday. The business’s 50-day simple moving average is $17.09 and its two-hundred day simple moving average is $14.40. The stock has a market cap of $5.21 billion, a PE ratio of -53.75 and a beta of 0.91. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $20.91.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. Sell-side analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays raised their target price on Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Oppenheimer raised their target price on Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company cut Freshworks from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $16.00 to $13.00 in a report on Tuesday, January 21st. Needham & Company LLC raised their target price on Freshworks from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. 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 report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.62.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Smith Group Asset Management LLC purchased a new position in shares of Freshworks during the fourth quarter valued at about $589,000. Quantbot Technologies LP grew its position in shares of Freshworks by 80.1% during the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock valued at $4,895,000 after purchasing an additional 189,616 shares in the last quarter. Barclays PLC grew its position in shares of Freshworks by 33.4% during the third quarter. Barclays PLC now owns 337,621 shares of the company’s stock valued at $3,875,000 after purchasing an additional 84,568 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Freshworks in the third quarter worth about $1,193,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Freshworks by 806.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock worth $2,699,000 after acquiring an additional 209,194 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

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.