Freshworks Inc. (NASDAQ:FRSH) Insider Mika Yamamoto Sells 5,718 Shares

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 5,718 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $16.95, for a total transaction of $96,920.10. Following the completion of the sale, the insider now directly owns 403,108 shares of the company’s stock, valued at $6,832,680.60. This represents a 1.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Freshworks Price Performance

Shares of NASDAQ:FRSH opened at $15.33 on Friday. Freshworks Inc. has a one year low of $10.81 and a one year high of $24.34. The company has a market cap of $4.64 billion, a price-to-earnings ratio of -45.09 and a beta of 0.90. The firm has a 50 day simple moving average of $14.59 and a 200 day simple moving average of $12.91.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. increased its holdings in Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after purchasing an additional 2,822 shares in the last quarter. Covestor Ltd increased its stake in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares during the period. CWM LLC raised its holdings in Freshworks by 554.5% in the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after buying an additional 2,878 shares during the last quarter. Quarry LP raised its holdings in Freshworks by 157.6% in the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after buying an additional 2,645 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Freshworks during the 3rd quarter worth approximately $57,000. 75.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FRSH. JPMorgan Chase & Co. boosted their price target on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note 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. Robert W. Baird dropped their price target on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. 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. Finally, JMP Securities raised their target price on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.69.

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.