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

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total transaction of $133,663.05. Following the completion of the transaction, the director now owns 24,187 shares in the company, valued at $383,363.95. This trade represents a 25.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, November 4th, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $12.19, for a total transaction of $102,798.27.

Freshworks Price Performance

Shares of NASDAQ:FRSH opened at $16.07 on Friday. Freshworks Inc. has a one year low of $10.81 and a one year high of $23.93. The company has a market cap of $4.87 billion, a price-to-earnings ratio of -47.26 and a beta of 0.90. The firm has a 50 day simple moving average of $15.51 and a 200 day simple moving average of $13.14.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FRSH shares. Robert W. Baird dropped their price target on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Canaccord Genuity Group increased their target price on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JMP Securities boosted their price target on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Freshworks in a research note on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Freshworks has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FRSH. Everence Capital Management Inc. bought a new stake in Freshworks during the 4th quarter worth $190,000. JPMorgan Chase & Co. boosted its stake in shares of Freshworks by 49.8% during the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after purchasing an additional 1,752,995 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Freshworks by 18.1% during the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock worth $44,934,000 after purchasing an additional 604,658 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Freshworks in the third quarter valued at approximately $534,000. Finally, Geode Capital Management LLC raised its holdings in Freshworks by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock valued at $52,750,000 after buying an additional 66,342 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

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.