Johanna Flower Sells 8,000 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Johanna Flower sold 8,000 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $14.80, for a total transaction of $118,400.00. Following the completion of the sale, the director directly owned 48,094 shares in the company, valued at approximately $711,791.20. The trade was a 14.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Freshworks Stock Up 4.0%

Shares of FRSH traded up $0.59 during trading hours on Friday, reaching $15.34. 1,798,797 shares of the company traded hands, compared to its average volume of 3,302,931. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The company's fifty day moving average price is $15.02 and its two-hundred day moving average price is $15.52. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of -63.89 and a beta of 0.95.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly 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. Freshworks had a negative net margin of 9.76% and a negative return on equity of 4.41%. The company had revenue of $196.27 million during the quarter, compared to analyst estimates of $191.90 million. During the same period last year, the business earned $0.10 EPS. Freshworks's quarterly revenue was up 18.9% compared to the same quarter last year. On average, analysts expect that Freshworks Inc. will post -0.19 EPS for the current year.

Institutional Investors Weigh In On Freshworks

Several hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI increased its position in shares of Freshworks by 1,385.8% during the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock valued at $64,000 after acquiring an additional 3,700 shares in the last quarter. Covestor Ltd increased its holdings in Freshworks by 30.2% during the fourth quarter. Covestor Ltd now owns 4,686 shares of the company's stock valued at $76,000 after buying an additional 1,087 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Freshworks during the first quarter valued at $70,000. Quarry LP raised 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 purchasing an additional 1,750 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Freshworks by 91.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock worth $84,000 after buying an additional 2,814 shares during the period. 75.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FRSH shares. Jefferies Financial Group lowered their price target on Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. Piper Sandler reaffirmed an "overweight" rating and issued a $22.00 price objective (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Morgan Stanley lifted their target price on shares of Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Scotiabank boosted their target price on Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen raised Freshworks from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Freshworks presently has an average rating of "Moderate Buy" and a consensus price target 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.