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

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Chairman Rathnagirish Mathrubootham sold 3,386 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were 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 represents a 0.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

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

Freshworks Trading Down 4.6%

Shares of FRSH traded down $0.72 during trading hours on Friday, reaching $14.94. The stock had a trading volume of 2,768,008 shares, compared to its average volume of 3,288,543. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The firm has a 50-day simple moving average of $14.36 and a 200 day simple moving average of $15.67. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -46.69 and a beta of 0.97.

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 the consensus estimate of $0.13 by $0.05. The business had revenue of $196.27 million during the quarter, compared to the consensus estimate of $191.90 million. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. The firm's revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. On average, equities analysts forecast that Freshworks Inc. will post -0.19 EPS for the current year.

Institutional Investors Weigh In On Freshworks

Several institutional investors and hedge funds have recently modified their holdings of FRSH. Raymond James Financial Inc. bought a new stake in shares of Freshworks in the fourth quarter worth $20,666,000. Lisanti Capital Growth LLC bought a new stake in shares of Freshworks during the fourth quarter valued at approximately $2,290,000. Ceera Investments LLC increased its position in Freshworks by 1,261.7% during the 4th quarter. Ceera Investments LLC now owns 455,420 shares of the company's stock valued at $7,364,000 after purchasing an additional 421,975 shares during the period. Deutsche Bank AG boosted its holdings in shares of Freshworks by 15.8% in the 4th quarter. Deutsche Bank AG now owns 513,810 shares of the company's stock valued at $8,308,000 after buying an additional 70,001 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Freshworks by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,609,957 shares of the company's stock worth $26,033,000 after acquiring an additional 53,185 shares during the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FRSH shares. Morgan Stanley raised their price target 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. JMP Securities reissued a "market outperform" rating and set a $27.00 price objective on shares of Freshworks in a report on Wednesday, April 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $25.00 target price on shares of Freshworks in a report on Monday, March 17th. Cantor Fitzgerald raised shares of Freshworks to an "overweight" rating and set a $20.00 price target for the company in a report on Tuesday, June 3rd. Finally, Scotiabank boosted their price target on shares of Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.