Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett Sells 5,546 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett sold 5,546 shares of Freshworks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $12.77, for a total transaction of $70,822.42. Following the completion of the sale, the director now owns 26,957 shares in the company, valued at $344,240.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Freshworks Trading Down 2.3 %

Freshworks stock opened at $12.74 on Thursday. Freshworks Inc. has a 12-month low of $11.90 and a 12-month high of $24.98. The firm’s fifty day moving average is $13.65 and its 200 day moving average is $18.14.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $163.53 million. Freshworks had a negative net margin of 18.93% and a negative return on equity of 10.66%. As a group, equities research analysts predict that Freshworks Inc. will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Freshworks

Several large investors have recently added to or reduced their stakes in FRSH. Charles Schwab Investment Management Inc. boosted its position in shares of Freshworks by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,304,325 shares of the company’s stock valued at $30,639,000 after acquiring an additional 67,254 shares during the period. Vanguard Group Inc. boosted its holdings in Freshworks by 14.6% in the 3rd quarter. Vanguard Group Inc. now owns 18,530,801 shares of the company’s stock valued at $369,134,000 after purchasing an additional 2,363,550 shares during the period. FACT Capital LP grew its position in shares of Freshworks by 9.3% during the 4th quarter. FACT Capital LP now owns 764,373 shares of the company’s stock valued at $17,955,000 after purchasing an additional 64,957 shares in the last quarter. Norges Bank bought a new position in shares of Freshworks in the fourth quarter worth $44,919,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Freshworks in the third quarter worth $2,445,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FRSH. Robert W. Baird lowered Freshworks from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $28.00 to $16.00 in a report on Thursday, May 2nd. Piper Sandler lowered their price objective on shares of Freshworks from $28.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. JMP Securities dropped their target price on shares of Freshworks from $29.00 to $21.00 and set a “market outperform” rating on the stock in a report on Thursday, May 2nd. Barclays reduced their target price on shares of Freshworks from $20.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, May 3rd. Finally, Cantor Fitzgerald dropped their price target on Freshworks from $25.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

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.