Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett Sells 780 Shares

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Barry L. Padgett sold 780 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $14.97, for a total transaction of $11,676.60. Following the completion of the transaction, the director now owns 26,957 shares in the company, valued at approximately $403,546.29. The trade was a 2.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Freshworks Stock Performance

FRSH traded up $0.35 during midday trading on Friday, reaching $15.34. The company had a trading volume of 3,575,089 shares, compared to its average volume of 3,281,991. The stock has a market cap of $4.53 billion, a PE ratio of -47.94 and a beta of 0.97. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $19.77. The business has a 50-day moving average price of $14.02 and a two-hundred day moving average price of $15.70.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. The firm had revenue of $196.27 million for the quarter, compared to analysts' expectations of $191.90 million. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The company's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. On average, research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on FRSH. Barclays lifted their price target on shares of Freshworks from $14.00 to $20.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. UBS Group decreased their price target on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $27.00 price target on shares of Freshworks in a research note on Wednesday, April 30th. Oppenheimer decreased their price target on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Wall Street Zen raised shares of Freshworks from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avion Wealth purchased a new stake in shares of Freshworks during the 4th quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in shares of Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock valued at $63,000 after buying an additional 954 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock valued at $64,000 after buying an additional 3,700 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Freshworks during the 1st quarter valued at approximately $70,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock valued at $71,000 after buying an additional 2,223 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Freshworks Company Profile

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.