Freshworks Inc. (NASDAQ:FRSH) Insider Mika Yamamoto Sells 4,289 Shares

Key Points

• Insider Mika Yamamoto sold 4,289 shares of Freshworks Inc. at an average price of $13.00, resulting in a total value of $55,757.
• Freshworks stock saw a 3.6% increase in value, trading at $13.46 after mid-day trading with a market cap of $3.97 billion.
• The company reported $204.68 million in revenue for its latest quarter, a 19.6% increase year-over-year, exceeding analyst estimates of $198.85 million.

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) insider Mika Yamamoto sold 4,289 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $13.00, for a total value of $55,757.00. Following the completion of the sale, the insider owned 566,198 shares of the company's stock, valued at $7,360,574. The trade was a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mika Yamamoto also recently made the following trade(s):

• On Tuesday, July 1st, Mika Yamamoto sold 4,289 shares of Freshworks stock. The stock was sold at an average price of $15.05, for a total value of $64,549.45.
• On Wednesday, June 4th, Mika Yamamoto sold 1,765 shares of Freshworks stock. The stock was sold at an average price of $15.50, for a total value of $27,357.50.
• On Monday, June 2nd, Mika Yamamoto sold 3,574 shares of Freshworks stock. The stock was sold at an average price of $15.13, for a total value of $54,074.62.

Freshworks Stock Up 3.6%

Shares of FRSH traded up $0.47 during mid-day trading on Tuesday, hitting $13.46. 7,027,362 shares of the company's stock traded hands, compared to its average volume of 5,774,897. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The firm has a market capitalization of $3.97 billion, a P/E ratio of -74.77 and a beta of 0.94. The business's 50-day moving average price is $14.73 and its 200-day moving average price is $15.22.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, beating 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 company had revenue of $204.68 million for the quarter, compared to analyst estimates of $198.85 million. During the same period in the previous year, the company posted $0.08 earnings per share. The firm's revenue was up 19.6% on a year-over-year basis. Sell-side analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. JMP Securities restated a "market outperform" rating and issued a $27.00 target price on shares of Freshworks in a research report on Wednesday, April 30th. Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 price target on the stock in a research note on Tuesday, June 3rd. Wall Street Zen raised Freshworks from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. UBS Group decreased their price target on Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Morgan Stanley lifted their price target on Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.29.

Institutional Investors Weigh In On Freshworks

Several hedge funds have recently added to or reduced their stakes in FRSH. Eminence Capital LP bought a new stake in Freshworks in the fourth quarter worth $86,002,000. Wellington Management Group LLP purchased a new stake in Freshworks during the first quarter valued at $48,813,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Freshworks in the fourth quarter worth about $49,946,000. Nuveen LLC purchased a new stake in Freshworks in the first quarter worth about $35,129,000. Finally, Driehaus Capital Management LLC purchased a new stake in Freshworks in the first quarter worth about $34,231,000. 75.58% of the stock is owned by institutional investors.

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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