Zachary Nelson Sells 8,433 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $12.19, for a total transaction of $102,798.27. Following the completion of the sale, the director now directly owns 23,497 shares in the company, valued at approximately $286,428.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Zachary Nelson also recently made the following trade(s):

• On Wednesday, October 2nd, Zachary Nelson sold 8,442 shares of Freshworks stock. The shares were sold at an average price of $11.04, for a total value of $93,199.68.
• On Tuesday, September 3rd, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $11.54, for a total value of $97,316.82.

Freshworks Stock Performance

NASDAQ:FRSH traded up $0.21 during trading hours on Tuesday, hitting $12.44. The company’s stock had a trading volume of 2,787,135 shares, compared to its average volume of 2,665,320. The company has a market capitalization of $3.76 billion, a PE ratio of -34.94 and a beta of 0.72. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $24.98. The business’s 50-day moving average is $11.41 and its two-hundred day moving average is $12.63.

Institutional Trading of Freshworks

A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after acquiring an additional 2,822 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Freshworks by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after buying an additional 757 shares in the last quarter. CWM LLC increased its holdings in Freshworks by 554.5% during the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after acquiring an additional 2,878 shares in the last quarter. Covestor Ltd raised its position in Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares during the last quarter. Finally, Quarry LP grew its position in shares of Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after purchasing an additional 2,645 shares during the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Canaccord Genuity Group dropped their price objective on Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Barclays reduced their target price on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Freshworks in a research note on Wednesday, July 31st. Finally, Piper Sandler reduced their price objective on Freshworks from $17.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.54.

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.