Freshworks Inc. (NASDAQ:FRSH – Get Free Report) Director Johanna Flower sold 21,400 shares of Freshworks stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $18.00, for a total value of $385,200.00. Following the completion of the sale, the director now owns 41,491 shares in the company, valued at approximately $746,838. The trade was a 34.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Freshworks Stock Up 7.8 %
FRSH traded up $1.41 on Tuesday, reaching $19.40. The company had a trading volume of 3,784,468 shares, compared to its average volume of 3,411,777. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $23.30. The stock has a market capitalization of $5.87 billion, a PE ratio of -57.04 and a beta of 0.88. The stock has a 50-day moving average price of $16.37 and a 200-day moving average price of $13.64.
Analysts Set New Price Targets
A number of research firms have weighed in on FRSH. Morgan Stanley raised their target price on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. boosted their target price on Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Piper Sandler boosted their target price on Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research note on Wednesday, January 15th. Finally, Oppenheimer upgraded shares of Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.07.
Institutional Investors Weigh In On Freshworks
Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock valued at $60,503,000 after buying an additional 1,752,995 shares during the last quarter. State Street Corp raised its holdings in shares of Freshworks by 7.1% in the third quarter. State Street Corp now owns 4,729,093 shares of the company’s stock valued at $54,290,000 after buying an additional 313,982 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 buying an additional 66,342 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock valued at $44,934,000 after buying an additional 604,658 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Freshworks by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,428,755 shares of the company’s stock worth $30,821,000 after purchasing an additional 239,671 shares in the last quarter. 75.58% of the stock is 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.
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