Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $14.27, for a total transaction of $66,854.95. Following the completion of the sale, the director directly owned 44,218 shares of the company's stock, valued at $630,990.86. This represents a 9.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Freshworks Stock Performance
NASDAQ:FRSH traded up $0.07 during trading hours on Monday, reaching $14.12. The stock had a trading volume of 3,132,683 shares, compared to its average volume of 3,322,178. The stock has a market capitalization of $4.17 billion, a PE ratio of -58.83 and a beta of 0.95. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The company has a 50 day moving average price of $15.06 and a two-hundred day moving average price of $15.49.
Freshworks (NASDAQ:FRSH - Get Free Report) last posted 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. Freshworks had a negative net margin of 9.76% and a negative return on equity of 4.41%. The firm had revenue of $196.27 million during the quarter, compared to analyst estimates of $191.90 million. During the same period last year, the firm posted $0.10 earnings per share. Freshworks's revenue for the quarter was up 18.9% compared to the same quarter last year. Equities research analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.
Analyst Ratings Changes
A number of equities analysts have weighed in on FRSH shares. Scotiabank upped their price target on shares of Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. Morgan Stanley increased their price target on Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Oppenheimer lowered their price objective on Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 price objective for the company in a research note on Tuesday, June 3rd. Finally, Wells Fargo & Company lifted their target price on Freshworks from $11.00 to $12.00 and gave the company an "underweight" rating in a research note on Wednesday, April 30th. One investment 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.07.
Read Our Latest Analysis on Freshworks
Hedge Funds Weigh In On Freshworks
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Freshworks by 3.4% in 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 acquiring an additional 53,185 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Freshworks by 2.2% in the 4th quarter. Arizona State Retirement System now owns 51,704 shares of the company's stock valued at $836,000 after purchasing an additional 1,103 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Freshworks in the 4th quarter worth approximately $20,666,000. PNC Financial Services Group Inc. increased its position in shares of Freshworks by 683.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,632 shares of the company's stock valued at $156,000 after purchasing an additional 8,403 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Freshworks by 21.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,056 shares of the company's stock valued at $793,000 after buying an additional 8,827 shares during the period. 75.58% of the stock is owned by hedge funds and other institutional investors.
About Freshworks
(
Get Free Report)
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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