Freshworks (NASDAQ:FRSH) Price Target Raised to $16.00 at Wells Fargo & Company

Freshworks (NASDAQ:FRSH) had its price target increased by analysts at Wells Fargo & Company from $14.00 to $16.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 0.93% from the company’s previous close.

FRSH has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Freshworks in a report on Tuesday, December 17th. Canaccord Genuity Group lifted their price objective on shares of Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Piper Sandler increased their target price on shares of Freshworks from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday. Robert W. Baird lowered their price target on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, JMP Securities upped their price objective on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Freshworks has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Freshworks Stock Up 0.1 %

FRSH opened at $16.15 on Tuesday. Freshworks has a 52 week low of $10.81 and a 52 week high of $23.93. The business’s 50 day moving average is $15.68 and its two-hundred day moving average is $13.21. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of -47.50 and a beta of 0.88.

Insider Buying and Selling at Freshworks

In related news, Director Zachary Nelson sold 8,433 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total value of $133,663.05. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Barry L. Padgett sold 2,345 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total transaction of $40,568.50. Following the transaction, the director now owns 26,957 shares in the company, valued at $466,356.10. The trade was a 8.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,697,478 shares of company stock valued at $26,648,447. 19.15% of the stock is owned by company insiders.

Institutional Trading of Freshworks

Institutional investors have recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new position in shares of Freshworks in the fourth quarter valued at $190,000. JPMorgan Chase & Co. increased its holdings in Freshworks by 49.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after acquiring an additional 1,752,995 shares in the last quarter. Franklin Resources Inc. raised its position in 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 acquiring an additional 604,658 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Freshworks in the third quarter valued at about $534,000. Finally, Geode Capital Management LLC grew its position in shares of Freshworks by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock valued at $52,750,000 after purchasing an additional 66,342 shares during the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

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.