Freshworks Inc. (NASDAQ:FRSH - Get Free Report) insider Mika Yamamoto sold 4,289 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $15.05, for a total value of $64,549.45. Following the completion of the sale, the insider directly owned 570,487 shares of the company's stock, valued at approximately $8,585,829.35. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Mika Yamamoto also recently made the following trade(s):
- 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 shares were sold at an average price of $15.13, for a total transaction of $54,074.62.
- On Monday, May 5th, Mika Yamamoto sold 3,574 shares of Freshworks stock. The stock was sold at an average price of $14.66, for a total value of $52,394.84.
Freshworks Trading Up 4.0%
Shares of Freshworks stock traded up $0.59 during trading on Friday, reaching $15.34. The company's stock had a trading volume of 1,798,797 shares, compared to its average volume of 3,302,931. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The stock has a 50-day moving average price of $15.02 and a two-hundred day moving average price of $15.52. The stock has a market capitalization of $4.52 billion, a P/E ratio of -63.89 and a beta of 0.95.
Freshworks (NASDAQ:FRSH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.05. The business had revenue of $196.27 million during the quarter, compared to the consensus estimate of $191.90 million. Freshworks had a negative net margin of 9.76% and a negative return on equity of 4.41%. Freshworks's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, sell-side analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently issued reports on FRSH. Oppenheimer lowered their price target on Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. UBS Group decreased their target price on Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald upgraded Freshworks to an "overweight" rating and set a $20.00 target price for the company in a research note on Tuesday, June 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $22.00 price objective (up from $20.00) on shares of Freshworks in a report on Wednesday, April 30th. Finally, Jefferies Financial Group dropped their price target on shares of Freshworks from $22.00 to $20.00 and set a "hold" rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $20.07.
Get Our Latest Stock Report on FRSH
Institutional Investors Weigh In On Freshworks
Several large investors have recently bought and sold shares of FRSH. Eminence Capital LP acquired a new position in shares of Freshworks in the 4th quarter valued at $86,002,000. Arrowstreet Capital Limited Partnership acquired a new stake in Freshworks during the 4th quarter worth approximately $61,530,000. Norges Bank bought a new position in Freshworks in the fourth quarter valued at approximately $57,527,000. Wellington Management Group LLP bought a new position in Freshworks in the first quarter valued at approximately $48,813,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Freshworks during the fourth quarter worth $49,946,000. Institutional investors own 75.58% of the company's stock.
About Freshworks
(
Get Free Report)
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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