Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Insider Sells 1,765 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) insider Mika Yamamoto sold 1,765 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $15.50, for a total transaction of $27,357.50. Following the transaction, the insider now directly owns 574,776 shares in the company, valued at $8,909,028. The trade was a 0.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 value of $54,074.62.
• On Monday, May 5th, Mika Yamamoto sold 3,574 shares of Freshworks stock. The shares were sold at an average price of $14.66, for a total value of $52,394.84.
• On Tuesday, April 1st, Mika Yamamoto sold 3,574 shares of Freshworks stock. The shares were sold at an average price of $14.20, for a total value of $50,750.80.

Freshworks Price Performance

Freshworks stock traded up $0.08 during midday trading on Friday, hitting $15.69. 1,797,527 shares of the company were exchanged, compared to its average volume of 3,268,459. The company has a market cap of $4.63 billion, a PE ratio of -49.03 and a beta of 0.97. The company's fifty day moving average price is $14.06 and its 200-day moving average price is $15.69. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. The business had revenue of $196.27 million during the quarter, compared to analyst estimates of $191.90 million. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The business's revenue was up 18.9% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. On average, analysts expect that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FRSH. Piper Sandler reissued an "overweight" rating and issued a $22.00 target price (up from $20.00) on shares of Freshworks in a research report on Wednesday, April 30th. Robert W. Baird set a $18.00 price target on shares of Freshworks in a report on Wednesday, February 12th. Canaccord Genuity Group boosted their price objective on shares of Freshworks from $19.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Barclays increased their target price on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. Finally, Wall Street Zen raised Freshworks from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.07.

Institutional Investors Weigh In On Freshworks

A number of hedge funds 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 approximately $86,002,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Freshworks in the 4th quarter valued at approximately $61,530,000. Norges Bank acquired a new stake in shares of Freshworks during the 4th quarter valued at approximately $57,527,000. Wellington Management Group LLP bought a new stake in shares of Freshworks during the 1st quarter valued at about $48,813,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in Freshworks in the fourth quarter valued at approximately $49,946,000. Institutional investors and hedge funds 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.

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