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 the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total transaction of $124,808.40. Following the completion of the sale, the director directly owned 38,870 shares of the company's stock, valued at $575,276. This trade represents a 17.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 value of $123,880.77.

Freshworks Price Performance

Shares of FRSH traded up $0.59 during midday trading on Friday, reaching $15.34. 1,798,797 shares of the stock were exchanged, compared to its average volume of 3,302,931. The business's 50-day moving average price is $15.02 and its 200 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 Inc. has a twelve month low of $10.81 and a twelve month high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.18 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 for the quarter, compared to analyst estimates of $191.90 million. During the same period in the previous year, the firm earned $0.10 EPS. The business's revenue was up 18.9% on a year-over-year basis. As a group, equities research analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

FRSH has been the subject of several research reports. Oppenheimer decreased their price objective on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Wall Street Zen raised shares of Freshworks from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 29th. Scotiabank increased their price objective on shares of Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 price target on shares of Freshworks in a report on Monday, March 17th. Finally, Cantor Fitzgerald upgraded Freshworks to an "overweight" rating and set a $20.00 price target on the stock in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.07.

Hedge Funds Weigh In On Freshworks

Several institutional investors and hedge funds have recently modified their holdings of FRSH. Charles Schwab Investment Management Inc. increased its holdings in Freshworks by 3.4% in the 4th 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 in the last quarter. Arizona State Retirement System grew its stake in Freshworks by 2.2% during the 4th quarter. Arizona State Retirement System now owns 51,704 shares of the company's stock valued at $836,000 after purchasing an additional 1,103 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Freshworks during the 4th quarter valued at approximately $20,666,000. Lisanti Capital Growth LLC bought a new position in Freshworks during the 4th quarter valued at $2,290,000. Finally, Edgestream Partners L.P. grew its holdings in Freshworks by 39.7% during the 4th quarter. Edgestream Partners L.P. now owns 145,217 shares of the company's stock worth $2,348,000 after acquiring an additional 41,283 shares in the last quarter. Hedge funds and other 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.