Freshworks Inc. (NASDAQ:FRSH) Insider Sells $52,291.11 in Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $18.29, for a total value of $52,291.11. Following the transaction, the insider now directly owns 397,390 shares of the company’s stock, valued at approximately $7,268,263.10. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, January 2nd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The stock was sold at an average price of $15.84, for a total transaction of $45,286.56.
• 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 transaction of $96,920.10.

Freshworks Stock Performance

NASDAQ FRSH opened at $18.36 on Friday. The stock has a market cap of $5.56 billion, a PE ratio of -54.00 and a beta of 0.91. The firm has a 50-day moving average of $16.82 and a 200-day moving average of $13.94. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $22.78.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FRSH. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Freshworks in a research note on Wednesday, January 15th. JMP Securities increased their price target on 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. boosted their price target on Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Canaccord Genuity Group upped 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. Finally, Robert W. Baird decreased their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.07.

Institutional Investors Weigh In On Freshworks

Hedge funds have recently bought and sold shares of the stock. Avion Wealth acquired a new position in shares of Freshworks in the fourth quarter valued at approximately $26,000. Blue Trust Inc. boosted its stake in Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after purchasing an additional 2,822 shares during the period. Covestor Ltd grew its holdings in Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Freshworks during the 3rd quarter worth $57,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Freshworks by 102.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after buying an additional 2,223 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

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.