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 company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $12.19, for a total value of $102,798.27. Following the completion of the transaction, the director now directly owns 23,497 shares in the company, valued at approximately $286,428.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, October 2nd, Zachary Nelson sold 8,442 shares of Freshworks stock. The shares were sold at an average price of $11.04, for a total transaction of $93,199.68.
• On Tuesday, September 3rd, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $11.54, for a total transaction of $97,316.82.

Freshworks Stock Performance

Shares of NASDAQ:FRSH opened at $13.09 on Thursday. The firm’s 50 day moving average is $11.45 and its two-hundred day moving average is $12.60. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $24.98.

Institutional Trading of Freshworks

Several large investors have recently added to or reduced their stakes in FRSH. Advisors Asset Management Inc. boosted its position in Freshworks by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after acquiring an additional 757 shares during the period. California State Teachers Retirement System lifted its holdings in Freshworks by 0.5% in the first quarter. California State Teachers Retirement System now owns 161,706 shares of the company’s stock worth $2,945,000 after purchasing an additional 831 shares during the period. Allspring Global Investments Holdings LLC grew its position in Freshworks by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,755 shares of the company’s stock valued at $250,000 after buying an additional 1,160 shares in the last quarter. Amalgamated Bank increased its stake in Freshworks by 29.1% during the 2nd quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock valued at $90,000 after buying an additional 1,588 shares during the period. Finally, Covestor Ltd raised its position in shares of Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after buying an additional 1,704 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on FRSH shares. Canaccord Genuity Group reduced their price target on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Scotiabank decreased their target price on Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 31st. Cantor Fitzgerald lowered their price target on Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Jefferies Financial Group reduced their price objective on Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company initiated coverage on shares of Freshworks in a research note on Wednesday, October 16th. They set an “equal weight” rating and a $11.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.54.

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.