Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Insider Sells 3,574 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) insider Mika Yamamoto sold 3,574 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $15.13, for a total value of $54,074.62. Following the transaction, the insider now directly owns 576,541 shares in the company, valued at $8,723,065.33. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• 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.
• 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 Stock Performance

NASDAQ:FRSH traded up $0.08 during midday trading on Thursday, reaching $15.61. 1,729,570 shares of the stock traded hands, compared to its average volume of 3,267,796. The company has a fifty day moving average of $14.03 and a 200 day moving average of $15.69. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The stock has a market capitalization of $4.61 billion, a P/E ratio of -48.78 and a beta of 0.97.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Oppenheimer dropped their price objective on Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. 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. Morgan Stanley increased their price objective on Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Canaccord Genuity Group boosted their target price 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. Finally, JMP Securities reissued a "market outperform" rating and set a $27.00 target price on shares of Freshworks in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Freshworks has an average rating of "Moderate Buy" and an average target price of $20.07.

Hedge Funds Weigh In On Freshworks

Several institutional investors have recently made changes to their positions in FRSH. Xponance Inc. raised its stake in Freshworks by 5.1% during the 1st quarter. Xponance Inc. now owns 15,605 shares of the company's stock worth $220,000 after acquiring an additional 758 shares during the period. Blue Trust Inc. raised its position in shares of Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock valued at $63,000 after buying an additional 954 shares during the last quarter. Versor Investments LP raised its position in shares of Freshworks by 3.0% during the fourth quarter. Versor Investments LP now owns 34,400 shares of the company's stock valued at $556,000 after buying an additional 1,000 shares during the last quarter. Amundi raised its position in shares of Freshworks by 1.3% during the first quarter. Amundi now owns 80,074 shares of the company's stock valued at $1,049,000 after buying an additional 1,040 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Freshworks by 30.2% during the fourth quarter. Covestor Ltd now owns 4,686 shares of the company's stock valued at $76,000 after buying an additional 1,087 shares during the last quarter. Institutional investors own 75.58% of the company's stock.

About Freshworks

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.