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

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.72, for a total transaction of $140,999.76. Following the completion of the transaction, the director now directly owns 24,187 shares of the company’s stock, valued at approximately $404,406.64. This represents a 25.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, February 3rd, Zachary Nelson sold 8,442 shares of Freshworks stock. The stock was sold at an average price of $18.30, for a total value of $154,488.60.
• 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 Stock Down 4.1 %

Shares of FRSH opened at $15.95 on Friday. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77. The stock has a market capitalization of $4.81 billion, a P/E ratio of -49.84 and a beta of 0.91. The company has a 50 day moving average of $17.23 and a 200-day moving average of $14.65.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. On average, sell-side analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Freshworks

Hedge funds have recently modified their holdings of the stock. Smith Group Asset Management LLC bought a new stake in Freshworks during the fourth quarter worth about $589,000. Quantbot Technologies LP raised its holdings in shares of 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 purchasing an additional 189,616 shares during the period. Barclays PLC raised its holdings in shares of Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock valued at $3,875,000 after purchasing an additional 84,568 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Freshworks in the 3rd quarter valued at about $1,193,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Freshworks by 806.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock worth $2,699,000 after acquiring an additional 209,194 shares during the period. Institutional investors own 75.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on FRSH. JMP Securities set a $27.00 price objective on shares of Freshworks in a research note on Wednesday, February 12th. Robert W. Baird set a $18.00 price objective on shares of Freshworks in a research note on Wednesday, February 12th. StockNews.com raised shares of Freshworks from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Cantor Fitzgerald lifted their price objective on shares of Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Oppenheimer upped their price objective on shares of Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.14.

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.