Freshworks Inc. (NASDAQ:FRSH - Get Free Report) insider Mika Yamamoto sold 5,718 shares of Freshworks stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $16.95, for a total transaction of $96,920.10. Following the completion of the sale, the insider now directly owns 403,108 shares in the company, valued at approximately $6,832,680.60. The trade was a 1.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Freshworks stock traded down $0.26 during trading hours on Thursday, reaching $15.40. 4,590,837 shares of the company's stock were exchanged, compared to its average volume of 2,983,198. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of -45.29 and a beta of 0.90. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $24.59. The company has a fifty day moving average of $14.43 and a 200-day moving average of $12.87.
A number of equities research analysts have weighed in on the company. Canaccord Genuity Group lifted their price objective on Freshworks from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Piper Sandler lifted their price target on Freshworks from $13.00 to $18.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Robert W. Baird cut their price objective on Freshworks from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of Freshworks from $11.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Finally, JMP Securities lifted their price target on shares of Freshworks from $21.00 to $24.00 and gave the company a "market outperform" rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Freshworks currently has an average rating of "Moderate Buy" and a consensus target price of $18.69.
Get Our Latest Analysis on FRSH
Large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP grew its holdings in Freshworks by 80.1% in the 3rd quarter. Quantbot Technologies LP now owns 426,432 shares of the company's stock valued at $4,895,000 after buying an additional 189,616 shares during the period. Sei Investments Co. boosted its position in shares of Freshworks by 191.9% in the second quarter. Sei Investments Co. now owns 95,846 shares of the company's stock worth $1,216,000 after acquiring an additional 63,006 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Freshworks in the third quarter valued at approximately $1,193,000. Intech Investment Management LLC purchased a new stake in Freshworks in the third quarter valued at approximately $867,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Freshworks by 806.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company's stock worth $2,699,000 after purchasing an additional 209,194 shares during the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.
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.
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