Mika Yamamoto Sells 5,718 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 5,718 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $16.95, for a total value 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. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Freshworks Price Performance

Shares of FRSH stock opened at $15.33 on Friday. The company has a market cap of $4.64 billion, a price-to-earnings ratio of -45.09 and a beta of 0.90. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $24.34. The firm has a fifty day moving average price of $14.59 and a 200-day moving average price of $12.91.

Institutional Trading of Freshworks

Several hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in shares of Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock worth $44,934,000 after buying an additional 604,658 shares during the period. Tidal Investments LLC purchased a new stake in shares of Freshworks in the third quarter worth $534,000. Geode Capital Management LLC lifted its stake in shares of Freshworks by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock valued at $52,750,000 after buying an additional 66,342 shares in the last quarter. Barclays PLC boosted its holdings in Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after buying an additional 84,568 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Freshworks by 4.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 132,261 shares of the company’s stock worth $1,518,000 after buying an additional 5,901 shares during the period. Institutional investors own 75.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on FRSH. Canaccord Genuity Group raised their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JMP Securities lifted their target price on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Freshworks in a report on Tuesday. Piper Sandler lifted their price objective on Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Freshworks has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

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.