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

Key Points

• Freshworks Inc. Director Jennifer H. Taylor sold 4,690 shares of the company's stock for a total of $58,765.70, reducing her ownership stake by 9.59%.
• In its last earnings report, Freshworks exceeded expectations with an EPS of $0.18 and revenue of $204.68 million, marking a 19.6% increase in revenue from the previous year.
• Analysts have given Freshworks a consensus rating of "Moderate Buy", with target prices from various firms ranging from $12.00 to $25.00.

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Jennifer H. Taylor sold 4,690 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $12.53, for a total value of $58,765.70. Following the sale, the director directly owned 44,218 shares of the company's stock, valued at approximately $554,051.54. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Freshworks Price Performance

NASDAQ:FRSH traded up $0.26 on Tuesday, reaching $12.56. 7,393,608 shares of the company's stock were exchanged, compared to its average volume of 3,715,494. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of -69.77 and a beta of 0.94. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The stock has a fifty day simple moving average of $14.55 and a 200-day simple moving average of $15.07.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%. The business had revenue of $204.68 million during the quarter, compared to the consensus estimate of $198.85 million. During the same quarter last year, the company earned $0.08 EPS. The firm's revenue was up 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 target price for the company in a research report on Tuesday, June 3rd. Piper Sandler raised their target price on Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Wells Fargo & Company raised their target price on Freshworks from $11.00 to $12.00 and gave the company an "underweight" rating in a research report on Wednesday, April 30th. Wall Street Zen raised Freshworks from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th. Finally, Scotiabank raised their target price on Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Freshworks has an average rating of "Moderate Buy" and a consensus target price of $20.29.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FRSH. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Freshworks during the 2nd quarter valued at about $25,000. Covestor Ltd boosted its position in shares of Freshworks by 30.2% during the 4th quarter. Covestor Ltd now owns 4,686 shares of the company's stock valued at $76,000 after acquiring an additional 1,087 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Freshworks during the 1st quarter valued at about $70,000. Quarry LP boosted its position in shares of Freshworks by 47.8% during the 4th quarter. Quarry LP now owns 5,410 shares of the company's stock valued at $87,000 after acquiring an additional 1,750 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Freshworks by 91.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock valued at $84,000 after acquiring an additional 2,814 shares during the last quarter. 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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