Freshworks Inc. (NASDAQ:FRSH) Insider Mika Yamamoto Sells 3,574 Shares

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) insider Mika Yamamoto sold 3,574 shares of Freshworks stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $15.13, for a total transaction of $54,074.62. Following the sale, the insider now owns 576,541 shares of the company's stock, valued at approximately $8,723,065.33. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, June 4th, Mika Yamamoto sold 1,765 shares of Freshworks stock. The shares were sold at an average price of $15.50, for a total transaction of $27,357.50.
• 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 transaction 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 transaction of $50,750.80.

Freshworks Stock Performance

Shares of NASDAQ:FRSH traded up $0.08 during trading hours on Friday, hitting $15.69. 1,797,527 shares of the company's stock traded hands, compared to its average volume of 3,281,791. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The company's fifty day simple moving average is $14.08 and its two-hundred day simple moving average is $15.70. The company has a market cap of $4.63 billion, a price-to-earnings ratio of -49.03 and a beta of 0.97.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on FRSH. Oppenheimer decreased their target price on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Barclays upped their price target on shares of Freshworks from $14.00 to $20.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. 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. JMP Securities restated a "market outperform" rating and set a $27.00 price target on shares of Freshworks in a research report on Wednesday, April 30th. Finally, UBS Group lowered their price target on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $20.07.

Institutional Trading of Freshworks

A number of hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in Freshworks by 18.1% during the first quarter. Rhumbline Advisers now owns 325,704 shares of the company's stock valued at $4,596,000 after buying an additional 49,873 shares in the last quarter. Strs Ohio purchased a new stake in shares of Freshworks in the first quarter worth approximately $830,000. Diker Management LLC lifted its position in shares of Freshworks by 4.3% in the first quarter. Diker Management LLC now owns 120,526 shares of the company's stock worth $1,701,000 after purchasing an additional 5,000 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Freshworks in the first quarter worth approximately $2,734,000. Finally, Intech Investment Management LLC lifted its position in shares of Freshworks by 40.9% in the first quarter. Intech Investment Management LLC now owns 154,170 shares of the company's stock worth $2,175,000 after purchasing an additional 44,761 shares in the last quarter. 75.58% of the stock is owned by hedge funds and other 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.