Jennifer H. Taylor Sells 7,558 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Jennifer H. Taylor sold 7,558 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $15.13, for a total value of $114,352.54. Following the sale, the director directly owned 44,218 shares of the company's stock, valued at $669,018.34. The trade was a 14.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Freshworks Stock Performance

Shares of Freshworks stock traded up $0.59 during trading on Friday, hitting $15.34. The company's stock had a trading volume of 1,798,797 shares, compared to its average volume of 3,294,368. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The company has a fifty day simple moving average of $15.00 and a two-hundred day simple moving average of $15.53. The company has a market capitalization of $4.52 billion, a PE 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, topping analysts' consensus estimates of $0.13 by $0.05. Freshworks had a negative return on equity of 4.41% and a negative net margin of 9.76%. The firm had revenue of $196.27 million for the quarter, compared to analysts' expectations of $191.90 million. During the same period in the previous year, the firm posted $0.10 EPS. The business's revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

Institutional Investors Weigh In On Freshworks

A number of institutional investors have recently modified their holdings of FRSH. Vanguard Group Inc. increased its stake in Freshworks by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 26,189,892 shares of the company's stock valued at $369,539,000 after purchasing an additional 1,126,013 shares in the last quarter. Eminence Capital LP bought a new position in shares of Freshworks in the fourth quarter worth approximately $86,002,000. Geode Capital Management LLC grew its holdings in shares of Freshworks by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,673,600 shares of the company's stock valued at $75,588,000 after buying an additional 79,388 shares during the last quarter. TPG GP A LLC increased its position in shares of Freshworks by 28.7% during the fourth quarter. TPG GP A LLC now owns 4,346,855 shares of the company's stock valued at $70,289,000 after acquiring an additional 969,283 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Freshworks by 27.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,951,115 shares of the company's stock valued at $55,750,000 after acquiring an additional 862,315 shares in the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FRSH shares. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price objective on shares of Freshworks in a report on Monday, March 17th. Piper Sandler reiterated an "overweight" rating and issued a $22.00 price objective (up previously from $20.00) on shares of Freshworks in a research report on Wednesday, April 30th. UBS Group cut their price objective on Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Morgan Stanley raised their price objective on shares of Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Finally, Jefferies Financial Group decreased their price target on shares of Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Freshworks currently has an average 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.