Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor Sells 4,690 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $16.74, for a total value of $78,510.60. Following the sale, the director now directly owns 36,689 shares in the company, valued at $614,173.86. The trade was a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Freshworks Stock Up 3.4 %

NASDAQ FRSH traded up $0.55 during trading on Wednesday, reaching $16.96. 4,288,675 shares of the stock traded hands, compared to its average volume of 2,964,075. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $24.98. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of -48.26 and a beta of 0.90. The stock’s 50-day moving average price is $13.76 and its 200 day moving average price is $12.73.

Hedge Funds Weigh In On Freshworks

Several institutional investors and hedge funds have recently made changes to their positions in FRSH. M&G PLC acquired a new stake in Freshworks during the 3rd quarter worth $9,094,000. Stanley Laman Group Ltd. acquired a new stake in shares of Freshworks during the second quarter worth about $9,133,000. Lake Street Advisors Group LLC acquired a new stake in shares of Freshworks during the second quarter worth about $8,717,000. Franklin Resources Inc. lifted its holdings in shares of Freshworks by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock valued at $44,934,000 after purchasing an additional 604,658 shares in the last quarter. Finally, Invenomic Capital Management LP acquired a new position in shares of Freshworks in the 3rd quarter valued at approximately $5,260,000. Institutional investors and hedge funds own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

FRSH has been the topic of several analyst reports. Wells Fargo & Company upped their target price on shares of Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Robert W. Baird reduced their price objective on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. JMP Securities lifted their target price on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group boosted their target price on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Piper Sandler lifted their price objective on Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

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.