Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett Sells 785 Shares

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Barry L. Padgett sold 785 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $15.15, for a total value of $11,892.75. Following the transaction, the director owned 32,635 shares of the company's stock, valued at $494,420.25. The trade was a 2.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Freshworks Price Performance

Shares of FRSH traded up $0.59 during mid-day trading on Friday, reaching $15.34. 1,798,797 shares of the company's stock traded hands, compared to its average volume of 3,302,931. The stock has a market cap of $4.52 billion, a P/E ratio of -63.89 and a beta of 0.95. The stock's 50-day moving average is $15.02 and its two-hundred day moving average is $15.52. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. Freshworks had a negative net margin of 9.76% and a negative return on equity of 4.41%. The company had revenue of $196.27 million for the quarter, compared to analyst estimates of $191.90 million. During the same period last year, the company posted $0.10 earnings per share. Freshworks's revenue was up 18.9% compared to the same quarter last year. Research analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. UBS Group cut their price target on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald upgraded Freshworks to an "overweight" rating and set a $20.00 price target for the company in a research note on Tuesday, June 3rd. Wells Fargo & Company raised their price objective on Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. Piper Sandler reiterated an "overweight" rating and issued a $22.00 price target (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $25.00 target price on shares of Freshworks in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Freshworks presently has an average rating of "Moderate Buy" and a consensus target price of $20.07.

Institutional Trading of Freshworks

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its stake in Freshworks by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,609,957 shares of the company's stock valued at $26,033,000 after purchasing an additional 53,185 shares during the last quarter. Arizona State Retirement System increased its holdings in Freshworks by 2.2% in the fourth quarter. Arizona State Retirement System now owns 51,704 shares of the company's stock valued at $836,000 after buying an additional 1,103 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Freshworks during the 4th quarter valued at about $20,666,000. Lisanti Capital Growth LLC purchased a new position in shares of Freshworks during the 4th quarter valued at approximately $2,290,000. Finally, Edgestream Partners L.P. lifted its holdings in Freshworks by 39.7% during the fourth quarter. Edgestream Partners L.P. now owns 145,217 shares of the company's stock valued at $2,348,000 after purchasing an additional 41,283 shares in the last quarter. 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.