Mika Yamamoto Sells 3,574 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 3,574 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $14.20, for a total value of $50,750.80. Following the completion of the sale, the insider now directly owns 611,604 shares of the company’s stock, valued at $8,684,776.80. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, March 3rd, Mika Yamamoto sold 2,859 shares of Freshworks stock. The shares were sold at an average price of $16.74, for a total value of $47,859.66.
• 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.

Freshworks Trading Down 10.2 %

Shares of FRSH stock traded down $1.49 during trading hours on Thursday, reaching $13.10. The company’s stock had a trading volume of 3,435,788 shares, compared to its average volume of 3,246,964. The firm’s fifty day simple moving average is $16.73 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. The stock has a market capitalization of $3.95 billion, a P/E ratio of -40.94 and a beta of 0.92.

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

Institutional Investors Weigh In On Freshworks

A number of institutional investors have recently made changes to their positions in FRSH. Avion Wealth purchased a new position in Freshworks in the 4th quarter worth approximately $26,000. Point72 Hong Kong Ltd purchased a new position in shares of Freshworks in the third quarter worth $57,000. Blue Trust Inc. boosted its position in shares of Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after buying an additional 954 shares during the last quarter. National Bank of Canada FI increased its holdings in 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 in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in 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 buying an additional 2,223 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FRSH shares. Jefferies Financial Group lowered their price target on shares of Freshworks from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday. JMP Securities set a $27.00 price target on Freshworks in a research report on Wednesday, February 12th. Morgan Stanley increased their price objective on Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Robert W. Baird set a $18.00 target price on Freshworks in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.