Freshworks Inc. (NASDAQ:FRSH) Director Johanna Flower Sells 1,450 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) Director Johanna Flower sold 1,450 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $18.01, for a total value of $26,114.50. Following the completion of the sale, the director now directly owns 41,491 shares of the company’s stock, valued at approximately $747,252.91. This trade represents a 3.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Johanna Flower also recently made the following trade(s):

• On Thursday, January 23rd, Johanna Flower sold 21,400 shares of Freshworks stock. The shares were sold at an average price of $18.00, for a total value of $385,200.00.

Freshworks Stock Down 0.6 %

Freshworks stock opened at $17.20 on Tuesday. The company has a market capitalization of $5.21 billion, a P/E ratio of -53.75 and a beta of 0.91. The stock’s 50 day moving average is $17.09 and its 200 day moving average is $14.40. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $20.91.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate 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 analysts expect that Freshworks Inc. will post -0.19 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on FRSH shares. JMP Securities upped their price target on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Oppenheimer upped their price target on Freshworks from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald upped 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. Scotiabank upped their price target on Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group upped their price target on Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.62.

Institutional Trading of Freshworks

Institutional investors have recently added to or reduced their stakes in the business. Smith Group Asset Management LLC purchased a new stake in Freshworks during the 4th quarter valued at $589,000. Quantbot Technologies LP boosted its stake in shares of Freshworks by 80.1% in the 3rd quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock worth $4,895,000 after buying an additional 189,616 shares during the last quarter. Barclays PLC boosted its stake in shares of Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after buying an additional 84,568 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Freshworks in the 3rd quarter worth $1,193,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Freshworks by 806.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock worth $2,699,000 after buying an additional 209,194 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.