Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Director Sells 8,442 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,442 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total value of $154,488.60. Following the completion of the sale, the director now directly owns 24,187 shares in the company, valued at approximately $442,622.10. This represents a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, January 2nd, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $15.85, for a total value of $133,663.05.

Freshworks Trading Down 0.8 %

NASDAQ:FRSH opened at $18.36 on Friday. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $22.78. The stock has a 50-day moving average price of $16.82 and a 200 day moving average price of $13.94. The stock has a market capitalization of $5.56 billion, a P/E ratio of -54.00 and a beta of 0.91.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FRSH. Wells Fargo & Company downgraded Freshworks from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. Oppenheimer raised Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Thursday, January 16th. JPMorgan Chase & Co. upped their price target on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird lowered their price target on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, JMP Securities upped their price target on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.07.

Hedge Funds Weigh In On Freshworks

Institutional investors have recently added to or reduced their stakes in the company. Avion Wealth purchased a new position in Freshworks during the 4th quarter valued at approximately $26,000. Blue Trust Inc. grew its holdings in Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after buying an additional 2,822 shares in the last quarter. Covestor Ltd grew its holdings in Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after buying an additional 2,223 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Freshworks during the 3rd quarter valued at approximately $57,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

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.