Barry Padgett Sells 780 Shares of Freshworks (NASDAQ:FRSH) Stock

Key Points

• Freshworks Inc. (NASDAQ:FRSH) Director Barry Padgett sold 780 shares at an average price of $13.13, resulting in a 2.33% reduction of his ownership, which now totals 32,635 shares valued at approximately $428,498.
• Following the sale, Freshworks stock experienced a decline of 2.3%, closing at $13.16 on the same day, with a market cap of $3.84 billion.
• Freshworks reported earnings of $0.18 per share for the last quarter, surpassing estimates, and also achieved a year-over-year revenue increase of 19.6%, prompting future EPS guidance for FY 2025 between $0.560 and $0.580.

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Barry Padgett sold 780 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $13.13, for a total value of $10,241.40. Following the completion of the transaction, the director directly owned 32,635 shares in the company, valued at $428,497.55. The trade was a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Freshworks Stock Down 2.3%

NASDAQ:FRSH traded down $0.31 on Tuesday, hitting $13.16. The stock had a trading volume of 4,049,379 shares, compared to its average volume of 3,748,365. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of -73.11 and a beta of 0.94. The business's 50-day simple moving average is $13.93 and its two-hundred day simple moving average is $14.55. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $204.68 million for the quarter, compared to analysts' expectations of $198.85 million. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The business's revenue for the quarter was up 19.6% on a year-over-year basis. During the same period last year, the firm posted $0.08 earnings per share. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. As a group, equities research analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

Institutional Trading of Freshworks

A number of large investors have recently added to or reduced their stakes in FRSH. Envestnet Asset Management Inc. increased its stake in Freshworks by 9.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 22,439 shares of the company's stock worth $363,000 after acquiring an additional 2,019 shares during the last quarter. Mariner LLC increased its stake in Freshworks by 51.2% in the 4th quarter. Mariner LLC now owns 15,153 shares of the company's stock worth $245,000 after acquiring an additional 5,131 shares during the last quarter. First Trust Advisors LP bought a new stake in Freshworks in the 4th quarter worth approximately $2,045,000. Tower Research Capital LLC TRC increased its stake in Freshworks by 664.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,108 shares of the company's stock worth $180,000 after acquiring an additional 9,654 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in Freshworks in the 4th quarter worth approximately $337,000. Institutional investors own 75.58% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on FRSH shares. Wall Street Zen cut Freshworks from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 price objective on the stock in a research report on Tuesday, June 3rd. Finally, Piper Sandler lifted their price objective on Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Freshworks has an average rating of "Moderate Buy" and an average target price of $20.29.

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.

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