Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson Sells 8,433 Shares

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total transaction of $124,808.40. Following the transaction, the director owned 38,870 shares of the company's stock, valued at $575,276. This represents a 17.83% 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.

Zachary Nelson also recently made the following trade(s):

• On Friday, May 2nd, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $14.69, for a total transaction of $123,880.77.

Freshworks Stock Up 4.0%

Freshworks stock traded up $0.59 during trading on Thursday, hitting $15.34. The stock had a trading volume of 1,798,562 shares, compared to its average volume of 3,309,521. The stock's 50 day moving average is $14.96 and its two-hundred day moving average is $15.55. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The stock has a market cap 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 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. The firm had revenue of $196.27 million for the quarter, compared to analysts' expectations of $191.90 million. Freshworks had a negative return on equity of 4.41% and a negative net margin of 9.76%. The business's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. As a group, equities research analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshworks

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FRSH shares. UBS Group lowered their price objective on Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Oppenheimer lowered their price target on Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company lifted their price objective on shares of Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Freshworks from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Finally, Cantor Fitzgerald raised shares of Freshworks to an "overweight" rating and set a $20.00 price target on the stock in a research report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Freshworks currently has a consensus rating of "Moderate Buy" and an average 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.

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