Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Insider Sells 3,574 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 3,574 shares of Freshworks stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $14.20, for a total transaction of $50,750.80. Following the completion of the sale, the insider now directly owns 611,604 shares of the company’s stock, valued at approximately $8,684,776.80. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $16.74, for a total value of $47,859.66.
• 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.

Freshworks Price Performance

Shares of FRSH stock traded down $1.49 during trading hours on Thursday, hitting $13.10. The stock had a trading volume of 3,435,788 shares, compared to its average volume of 3,246,964. The stock’s 50-day moving average price is $16.73 and its two-hundred day moving average price is $15.15. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -40.94 and a beta of 0.92.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS 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%. As a group, equities research analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FRSH. Piper Sandler boosted their price objective on shares of Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Morgan Stanley boosted their price target on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Robert W. Baird set a $18.00 price objective on Freshworks in a research note on Wednesday, February 12th. JMP Securities set a $27.00 price objective on Freshworks in a research report on Wednesday, February 12th. Finally, UBS Group set a $22.00 target price on shares of Freshworks in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Freshworks currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.14.

Hedge Funds Weigh In On Freshworks

A number of institutional investors and hedge funds have recently made changes to their positions in FRSH. Polar Asset Management Partners Inc. purchased a new stake in shares of Freshworks during the 4th quarter valued at about $5,053,000. JT Stratford LLC raised its position in Freshworks by 41.6% during the fourth quarter. JT Stratford LLC now owns 20,133 shares of the company’s stock valued at $326,000 after purchasing an additional 5,917 shares during the period. PharVision Advisers LLC purchased a new stake in Freshworks during the fourth quarter valued at approximately $370,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Freshworks by 19.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 370,676 shares of the company’s stock valued at $5,994,000 after purchasing an additional 60,652 shares during the last quarter. Finally, Vident Advisory LLC purchased a new position in shares of Freshworks in the 4th quarter worth approximately $316,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

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.