Mika Yamamoto Sells 2,859 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $16.74, for a total transaction of $47,859.66. Following the completion of the sale, the insider now owns 615,893 shares in the company, valued at $10,310,048.82. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mika Yamamoto also recently made the following trade(s):

• On Monday, February 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The stock was sold at an average price of $18.29, for a total transaction of $52,291.11.
• On Thursday, January 2nd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $15.84, for a total value of $45,286.56.
• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The shares were sold at an average price of $16.95, for a total value of $96,920.10.

Freshworks Price Performance

Shares of FRSH stock opened at $16.63 on Thursday. The business has a 50-day moving average of $17.22 and a 200 day moving average of $14.64. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77. The stock has a market capitalization of $5.01 billion, a PE ratio of -51.97 and a beta of 0.91.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data 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%. Analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

Institutional Investors Weigh In On Freshworks

A number of large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after acquiring an additional 954 shares during the last quarter. Versor Investments LP increased its holdings in Freshworks by 3.0% during the 4th quarter. Versor Investments LP now owns 34,400 shares of the company’s stock valued at $556,000 after purchasing an additional 1,000 shares during the period. Covestor Ltd raised its position in Freshworks by 30.2% during the 4th quarter. Covestor Ltd now owns 4,686 shares of the company’s stock valued at $76,000 after purchasing an additional 1,087 shares during the last quarter. Arizona State Retirement System lifted its holdings in Freshworks by 2.2% in the 4th quarter. Arizona State Retirement System now owns 51,704 shares of the company’s stock worth $836,000 after buying an additional 1,103 shares during the period. Finally, Xponance Inc. grew its position in shares of Freshworks by 10.2% in the 4th quarter. Xponance Inc. now owns 14,847 shares of the company’s stock worth $240,000 after buying an additional 1,369 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FRSH shares. Scotiabank upped their price objective on shares of Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Piper Sandler increased their price target on shares of Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. StockNews.com raised shares of Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Barclays upped their target price on shares of Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald raised their price target on Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Freshworks presently has a consensus rating of “Moderate Buy” and an average target price of $21.14.

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.