Inside Sales: Freshworks Inc. (NASDAQ:FRSH) Director sells 8,442 shares

Freshworks Inc. (NASDAQ:FRSH – Get Your Free Report ) Director Zachary Nelson sold 8,442 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total transaction of $93,199.68. Following the sale, the director now directly owns 23,497 shares in the company, valued at $259,406.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website.

Zachary Nelson also recently traded:

• On Tuesday, September 3rd, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $11.54, for a total transaction of $97,316.82.
• On Friday, August 2nd, Zachary Nelson sold 8,442 shares of Freshworks stock. The shares were sold at an average price of $11.60, for a total value of $97,927.20.

Freshworks stock down 1.7%

NASDAQ FRSH traded up $0.19 on Wednesday, reaching $11.01. 3,358,693 shares of the stock traded hands, compared to its average volume of 2,606,533. Freshworks Inc. has a 12-month low of $10.89 and a 12-month high of $24.98. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -27.60 and a beta of 0.73. The company’s fifty-day simple moving average is $11.65, and its 200-day simple moving average is $13.75.

Freshworks (NASDAQ:FRSH – Get Your Free Report ) last released its earnings results on Tuesday, July 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The firm had revenue of $174.13 million for the quarter, compared to analyst estimates of $169.05 million. During the same period in the previous year, the company earned ($0.12) earnings per share. Freshworks’s revenue was up 20.0% compared to the same quarter last year. As a group, equities research analysts forecast that Freshworks Inc. will post -0.38 EPS for the current fiscal year.

Analysts on Wall Street are forecasting an increase

Several analysts have recently issued reports on FRSH shares. Barclays reduced their target price on Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. StockNews.com downgraded shares of Freshworks from a “buy” rating to a “hold” rating in a report on Saturday, June 22nd. Cantor Fitzgerald decreased their price objective on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Piper Sandler lowered their price objective on shares of Freshworks from $22.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Canaccord Genuity Group cut their price target on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th . Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.69, based on data from MarketBeat.

Check out our latest report on Freshworks

Institutional trade of fresh products

A number of hedge funds and other institutional investors have recently made changes to their positions in FRSH. Capital International Investors bought a new position in shares of Freshworks in the first quarter valued at $59,311,000. Clearbridge Investments LLC boosted its stake in Freshworks by 107.4% in the first quarter. Clearbridge Investments LLC now owns 4,050,733 shares of the company’s stock worth $73,764,000 after buying an additional 2,097,280 shares in the last quarter. Vanguard Group Inc. raised its holdings in Freshworks by 6.8% in the first quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company’s stock worth $385,525,000 after purchasing an additional 1,354,530 shares during the period. Stanley Laman Group Ltd. purchased a new stake in Freshworks in the second quarter valued at about $9,133,000. Finally, Lake Street Advisors Group LLC purchased a new position in shares of Freshworks in the second quarter worth about $8,717,000. 75.58% of shares are currently owned by institutional investors.

About Freshworks

(Get a free report)

Freshworks Inc, a software development company, provides software as a service worldwide. Offers the Freshworks Customer Service Suite, which provides automated and personalized self-service across multiple channels, including web, chat, mobile messaging, email and social media; Freshdesk, a customer service solution focused on ticketing; Freshsuccess, a customer success solution; and Freshchat, which provides agents with a modern conversational experience to proactively engage customers through digital messaging channels.

Further reading

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