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 company's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $14.27, for a total value of $66,854.95. Following the completion of the transaction, the director owned 44,218 shares in the company, valued at approximately $630,990.86. The trade was a 9.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Freshworks Trading Down 4.6%

Shares of FRSH stock traded down $0.68 during trading hours on Friday, reaching $14.05. The stock had a trading volume of 2,672,141 shares, compared to its average volume of 3,311,823. The stock's fifty day simple moving average is $15.07 and its 200 day simple moving average is $15.51. The firm has a market capitalization of $4.14 billion, a PE ratio of -58.54 and a beta of 0.95. 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 posted its earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. The business had revenue of $196.27 million for the quarter, compared to analysts' expectations of $191.90 million. Freshworks had a negative net margin of 9.76% and a negative return on equity of 4.41%. The business's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. As a group, equities research analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JMP Securities reaffirmed a "market outperform" rating and set a $27.00 price target on shares of Freshworks in a research report on Wednesday, April 30th. Scotiabank boosted their price objective on Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. Oppenheimer cut their target price on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen upgraded shares of Freshworks from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. Finally, Jefferies Financial Group dropped their price target on shares of Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $20.07.

Institutional Investors Weigh In On Freshworks

A number of institutional investors and hedge funds have recently made changes to their positions in FRSH. Raymond James Financial Inc. purchased a new position in Freshworks during the fourth quarter worth about $20,666,000. Deutsche Bank AG boosted its position in shares of Freshworks by 15.8% during the 4th quarter. Deutsche Bank AG now owns 513,810 shares of the company's stock valued at $8,308,000 after acquiring an additional 70,001 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Freshworks by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,609,957 shares of the company's stock worth $26,033,000 after purchasing an additional 53,185 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Freshworks by 48.9% in the fourth quarter. ProShare Advisors LLC now owns 58,200 shares of the company's stock worth $941,000 after purchasing an additional 19,125 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new stake in Freshworks in the first quarter valued at approximately $13,426,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

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.

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