Mika Yamamoto Sells 5,718 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 5,718 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $16.95, for a total transaction of $96,920.10. Following the sale, the insider now directly owns 403,108 shares of the company’s stock, valued at approximately $6,832,680.60. This trade represents a 1.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Freshworks Trading Down 1.7 %

FRSH stock traded down $0.26 during mid-day trading on Thursday, reaching $15.40. 4,590,837 shares of the stock traded hands, compared to its average volume of 2,983,198. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $24.59. The stock’s fifty day moving average is $14.43 and its 200-day moving average is $12.87. The company has a market cap of $4.66 billion, a P/E ratio of -45.29 and a beta of 0.90.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FRSH shares. Canaccord Genuity Group boosted their price objective on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased 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. Piper Sandler boosted their target price on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. JMP Securities upped their price objective on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird lowered 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.69.

Institutional Investors Weigh In On Freshworks

A number of large investors have recently made changes to their positions in FRSH. CWM LLC grew its position in Freshworks by 554.5% during the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after purchasing an additional 2,878 shares in the last quarter. Bank of New York Mellon Corp grew its position in Freshworks by 35.9% during the second quarter. Bank of New York Mellon Corp now owns 1,588,968 shares of the company’s stock valued at $20,164,000 after purchasing an additional 420,135 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 in the last quarter. Principal Financial Group Inc. grew its stake in shares of 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. Finally, International Assets Investment Management LLC acquired a new position in Freshworks in the second quarter worth approximately $58,000. Institutional investors and hedge funds 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.