Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Insider Sells 2,859 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.74, for a total value of $47,859.66. Following the completion of the sale, the insider now directly owns 615,893 shares in the company, valued at $10,310,048.82. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, February 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $18.29, for a total value of $52,291.11.
• On Thursday, January 2nd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $15.84, for a total transaction 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 transaction of $96,920.10.

Freshworks Price Performance

Shares of FRSH traded up $0.03 during trading hours on Tuesday, hitting $16.36. The stock had a trading volume of 2,500,969 shares, compared to its average volume of 4,124,399. The firm has a market capitalization of $4.93 billion, a PE ratio of -51.13 and a beta of 0.91. The stock has a fifty day moving average price of $17.21 and a 200 day moving average price of $14.60. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share 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, analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FRSH has been the subject of several research analyst reports. StockNews.com upgraded shares of Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Barclays lifted their price target on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Scotiabank increased their price objective on Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Wells Fargo & Company cut shares of Freshworks from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. Finally, Needham & Company LLC increased their price target on shares of Freshworks from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FRSH. Avion Wealth bought a new stake in Freshworks during the 4th quarter worth approximately $26,000. Covestor Ltd boosted its position in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after purchasing an additional 1,704 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Freshworks in the third quarter worth $57,000. Blue Trust Inc. raised its position 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 purchasing an additional 954 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after buying an additional 3,700 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors.

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.