Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction on 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 directly owns 37,895 shares of the company's stock, valued at $603,288.40. This represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Freshworks Price Performance
Shares of NASDAQ:FRSH traded down $0.51 during mid-day trading on Friday, reaching $15.16. 690,362 shares of the company were exchanged, compared to its average volume of 3,274,030. The firm's 50-day simple moving average is $14.30 and its 200 day simple moving average is $15.68. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of -47.33 and a beta of 0.97.
Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. The company had revenue of $196.27 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. On average, research analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Piper Sandler reissued an "overweight" rating and set a $22.00 price objective (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Needham & Company LLC restated a "buy" rating and issued a $25.00 price target on shares of Freshworks in a research note on Monday, March 17th. Cantor Fitzgerald raised shares of Freshworks to an "overweight" rating and set a $20.00 price target on the stock in a report on Tuesday, June 3rd. UBS Group reduced 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. Finally, Wells Fargo & Company lifted their price target on Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Freshworks presently has an average rating of "Moderate Buy" and an average target price of $20.07.
Check Out Our Latest Stock Analysis on FRSH
Hedge Funds Weigh In On Freshworks
Several institutional investors have recently added to or reduced their stakes in FRSH. Rhumbline Advisers grew its position in shares of Freshworks by 18.1% in the first quarter. Rhumbline Advisers now owns 325,704 shares of the company's stock valued at $4,596,000 after purchasing an additional 49,873 shares during the period. Strs Ohio acquired a new position in shares of Freshworks in the 1st quarter worth approximately $830,000. Diker Management LLC raised its stake in Freshworks by 4.3% during the first quarter. Diker Management LLC now owns 120,526 shares of the company's stock worth $1,701,000 after acquiring an additional 5,000 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Freshworks during the first quarter valued at $2,734,000. Finally, Intech Investment Management LLC boosted its position in shares of Freshworks by 40.9% during the first quarter. Intech Investment Management LLC now owns 154,170 shares of the company's stock worth $2,175,000 after buying an additional 44,761 shares during the period. Institutional investors and hedge funds own 75.58% of the company's stock.
About Freshworks
(
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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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