Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor Sells 4,685 Shares

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Jennifer H. Taylor sold 4,685 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.41, for a total transaction of $72,195.85. Following the completion of the sale, the director now owns 37,895 shares in the company, valued at $583,961.95. This represents a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Freshworks Price Performance

NASDAQ:FRSH traded up $1.11 during mid-day trading on Monday, hitting $15.67. The company's stock had a trading volume of 3,238,775 shares, compared to its average volume of 3,276,283. The business's fifty day moving average is $14.12 and its two-hundred day moving average is $15.56. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of -48.97 and a beta of 0.97. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. The firm had revenue of $196.27 million for the quarter, compared to analyst estimates of $191.90 million. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. Freshworks's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. Analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Freshworks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eminence Capital LP acquired a new stake in shares of Freshworks in the fourth quarter worth approximately $86,002,000. Arrowstreet Capital Limited Partnership acquired a new stake in Freshworks during the 4th quarter worth $61,530,000. Norges Bank acquired a new stake in shares of Freshworks in the fourth quarter valued at about $57,527,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Freshworks in the fourth quarter worth about $49,946,000. Finally, Topline Capital Management LLC acquired a new position in Freshworks during the fourth quarter worth about $27,166,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FRSH has been the subject of a number of analyst reports. StockNews.com raised shares of Freshworks from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Oppenheimer decreased their price objective on Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Barclays raised their price objective on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. UBS Group reduced their target price on Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $22.00 price target (up from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.21.

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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