Freshworks Inc. (NASDAQ:FRSH) Chairman Rathnagirish Mathrubootham Sells 3,386 Shares

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Chairman Rathnagirish Mathrubootham sold 3,386 shares of Freshworks stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $16.00, for a total transaction of $54,176.00. Following the completion of the transaction, the chairman now owns 744,647 shares in the company, valued at approximately $11,914,352. This trade represents a 0.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rathnagirish Mathrubootham also recently made the following trade(s):

• On Wednesday, June 11th, Rathnagirish Mathrubootham sold 70,997 shares of Freshworks stock. The shares were sold at an average price of $16.01, for a total transaction of $1,136,661.97.
• On Tuesday, June 10th, Rathnagirish Mathrubootham sold 55,800 shares of Freshworks stock. The stock was sold at an average price of $16.00, for a total transaction of $892,800.00.

Freshworks Price Performance

NASDAQ:FRSH traded down $0.72 during trading hours on Friday, hitting $14.94. The stock had a trading volume of 2,768,008 shares, compared to its average volume of 3,295,274. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -46.69 and a beta of 0.97. The company has a 50 day simple moving average of $14.36 and a two-hundred day simple moving average of $15.67.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its 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 net margin of 13.24% and a negative return on equity of 6.63%. The company had revenue of $196.27 million for the quarter, compared to analysts' expectations of $191.90 million. During the same quarter last year, the company earned $0.10 EPS. The firm's revenue was up 18.9% compared to the same quarter last year. Equities research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FRSH has been the subject of a number of recent research reports. UBS Group dropped their price target on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Scotiabank raised their target price on shares of Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Morgan Stanley boosted their target price on shares of Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Piper Sandler restated an "overweight" rating and issued a $22.00 target price (up previously from $20.00) on shares of Freshworks in a report on Wednesday, April 30th. Finally, JMP Securities restated a "market outperform" rating and issued a $27.00 target price on shares of Freshworks in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Freshworks currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.07.

Institutional Investors Weigh In On Freshworks

A number of large investors have recently modified their holdings of FRSH. Xponance Inc. boosted its stake in Freshworks by 5.1% during the first quarter. Xponance Inc. now owns 15,605 shares of the company's stock worth $220,000 after acquiring an additional 758 shares in the last quarter. Versor Investments LP grew its stake in 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 acquiring an additional 1,000 shares in the last quarter. Amundi lifted its holdings in shares of Freshworks by 1.3% in the 1st quarter. Amundi now owns 80,074 shares of the company's stock valued at $1,049,000 after acquiring an additional 1,040 shares during the last quarter. Covestor Ltd grew its position in Freshworks by 30.2% in the fourth quarter. Covestor Ltd now owns 4,686 shares of the company's stock worth $76,000 after acquiring an additional 1,087 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Freshworks by 2.2% during the fourth quarter. Arizona State Retirement System now owns 51,704 shares of the company's stock valued at $836,000 after buying an additional 1,103 shares during the period. Institutional investors 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.