Zachary Nelson Sells 8,433 Shares of Freshworks (NASDAQ:FRSH) Stock

Key Points

• Director Zachary Nelson sold 8,433 shares of Freshworks (NASDAQ:FRSH) stock on September 2nd for a total of $110,809.62, resulting in a 17.83% decrease in his holdings.
• Freshworks reported quarterly earnings of $0.18 EPS on July 29th, surpassing analysts' estimates, with revenue of $204.68 million, a 19.6% increase year-over-year.
• The average analyst rating for Freshworks is currently a "Moderate Buy", with a consensus target price of $20.29.

Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Zachary Nelson sold 8,433 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $13.14, for a total value of $110,809.62. Following the sale, the director directly owned 38,870 shares of the company's stock, valued at $510,751.80. The trade was a 17.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Zachary Nelson also recently made the following trade(s):

• On Monday, August 4th, Zachary Nelson sold 8,432 shares of Freshworks stock. The stock was sold at an average price of $13.01, for a total value of $109,700.32.
• On Wednesday, July 2nd, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $14.80, for a total value of $124,808.40.

Freshworks Trading Down 0.5%

Freshworks stock traded down $0.07 during trading hours on Wednesday, reaching $13.09. 2,954,130 shares of the company were exchanged, compared to its average volume of 4,350,914. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of -72.72 and a beta of 0.94. The stock has a 50-day moving average of $13.87 and a 200 day moving average of $14.53. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The firm had revenue of $204.68 million during the quarter, compared to analysts' expectations of $198.85 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The company's revenue was up 19.6% on a year-over-year basis. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. As a group, research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Freshworks during the second quarter worth $25,000. EverSource Wealth Advisors LLC raised its stake in Freshworks by 427.6% during the second quarter. EverSource Wealth Advisors LLC now owns 4,479 shares of the company's stock worth $67,000 after acquiring an additional 3,630 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Freshworks during the first quarter worth $70,000. DekaBank Deutsche Girozentrale raised its stake in Freshworks by 91.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock worth $84,000 after acquiring an additional 2,814 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Freshworks by 55.1% during the second quarter. Nisa Investment Advisors LLC now owns 6,064 shares of the company's stock worth $90,000 after acquiring an additional 2,155 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on FRSH shares. Wall Street Zen lowered Freshworks from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 23rd. Cantor Fitzgerald upgraded Freshworks to an "overweight" rating and set a $20.00 price target for the company in a report on Tuesday, June 3rd. Finally, Piper Sandler upped their price target on Freshworks from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Freshworks presently has an average rating of "Moderate Buy" and a consensus target price of $20.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.