Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett Sells 780 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett sold 780 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $14.09, for a total transaction of $10,990.20. Following the completion of the transaction, the director now directly owns 26,957 shares of the company’s stock, valued at approximately $379,824.13. The trade was a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Freshworks Stock Performance

Shares of FRSH stock traded up $0.22 on Tuesday, hitting $14.33. 3,007,643 shares of the company’s stock traded hands, compared to its average volume of 3,246,959. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of -44.78 and a beta of 0.92. The company’s fifty day simple moving average is $16.79 and its 200 day simple moving average is $15.15. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77.

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 return on equity of 6.63% and a negative net margin of 13.24%. As a group, sell-side analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Freshworks

A number of institutional investors have recently bought and sold shares of the stock. Avion Wealth bought a new stake in shares of Freshworks during the fourth quarter valued at approximately $26,000. Point72 Hong Kong Ltd purchased a new position in Freshworks during the third quarter valued at $57,000. Blue Trust Inc. boosted its holdings in shares of Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after buying an additional 954 shares in the last quarter. National Bank of Canada FI grew its position in shares of Freshworks by 1,385.8% in the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock worth $64,000 after buying an additional 3,700 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after acquiring an additional 2,223 shares in the last quarter. 75.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FRSH shares. JMP Securities set a $27.00 price objective on Freshworks in a research note on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of Freshworks in a research report on Monday, March 17th. Scotiabank upped their price objective on shares of Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group raised their target price on shares of Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Barclays boosted their price target on shares of Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Freshworks currently has a consensus rating of “Moderate Buy” and an average target price of $21.14.

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.