Mika Yamamoto Sells 2,859 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $18.29, for a total transaction of $52,291.11. Following the completion of the sale, the insider now owns 397,390 shares in the company, valued at approximately $7,268,263.10. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, January 2nd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The stock was sold at an average price of $15.84, for a total value of $45,286.56.
• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The stock was sold at an average price of $16.95, for a total value of $96,920.10.

Freshworks Price Performance

Freshworks stock opened at $18.50 on Thursday. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $22.78. The stock has a market capitalization of $5.60 billion, a PE ratio of -54.41 and a beta of 0.91. The firm has a 50 day simple moving average of $16.77 and a 200-day simple moving average of $13.91.

Analyst Upgrades and Downgrades

FRSH has been the subject of several research reports. Oppenheimer raised shares of Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Thursday, January 16th. Piper Sandler lifted their target price on Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company cut Freshworks from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $16.00 to $13.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group raised their target price on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Freshworks presently has an average rating of “Moderate Buy” and a consensus price target of $19.07.

Hedge Funds Weigh In On Freshworks

Several hedge funds have recently modified their holdings of the company. Quantbot Technologies LP boosted its stake in Freshworks by 80.1% during the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock valued at $4,895,000 after buying an additional 189,616 shares in the last quarter. Smith Group Asset Management LLC bought a new position in shares of Freshworks during the 4th quarter valued at about $589,000. Barclays PLC grew 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 purchasing an additional 84,568 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Freshworks by 191.9% in the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock worth $1,216,000 after purchasing an additional 63,006 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Freshworks during the third quarter valued at approximately $1,193,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

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.