Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor Sells 4,690 Shares

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $15.92, for a total value of $74,664.80. Following the sale, the director now owns 37,895 shares of the company's stock, valued at $603,288.40. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Freshworks Stock Down 4.6%

NASDAQ FRSH traded down $0.72 during trading hours on Friday, hitting $14.94. 2,768,008 shares of the stock were exchanged, compared to its average volume of 3,295,274. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -46.69 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 stock has a 50-day moving average of $14.36 and a 200 day moving average of $15.67.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.13 by $0.05. The business had revenue of $196.27 million for the quarter, compared to analyst estimates 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 prior year, the business earned $0.10 earnings per share. On average, equities research analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Freshworks during the 4th quarter valued at about $20,666,000. Lisanti Capital Growth LLC acquired a new stake in shares of Freshworks in the 4th quarter worth approximately $2,290,000. Ceera Investments LLC lifted its stake in Freshworks by 1,261.7% during the fourth quarter. Ceera Investments LLC now owns 455,420 shares of the company's stock valued at $7,364,000 after purchasing an additional 421,975 shares during the last quarter. Deutsche Bank AG lifted its stake in Freshworks by 15.8% during the fourth quarter. Deutsche Bank AG now owns 513,810 shares of the company's stock valued at $8,308,000 after purchasing an additional 70,001 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Freshworks by 3.4% during the fourth 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. 75.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on FRSH. Oppenheimer reduced their target price on Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Piper Sandler restated an "overweight" rating and issued a $22.00 price objective (up from $20.00) on shares of Freshworks in a research report on Wednesday, April 30th. Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 target price on the stock in a report on Tuesday, June 3rd. Scotiabank lifted their target price on Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Finally, Jefferies Financial Group reduced their price objective on Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.07.

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.