Freshworks (NASDAQ:FRSH) Insider Mika Yamamoto Sells 15,012 Shares

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 15,012 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $13.00, for a total transaction of $195,156.00. Following the sale, the insider owned 490,350 shares in the company, valued at $6,374,550. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Freshworks Stock Up 1.7%

NASDAQ:FRSH traded up $0.22 on Tuesday, reaching $13.05. 2,952,648 shares of the company’s stock traded hands, compared to its average volume of 3,784,091. The stock has a 50-day simple moving average of $11.56 and a 200-day simple moving average of $13.14. Freshworks Inc. has a 12 month low of $10.51 and a 12 month high of $19.77. The firm has a market cap of $3.68 billion, a PE ratio of -130.49 and a beta of 0.89.

Freshworks (NASDAQ:FRSH) last released its earnings results on Thursday, September 11th. The company reported $0.18 earnings per share (EPS) for the quarter. The firm had revenue of $204.68 million during the quarter. Freshworks had a negative return on equity of 0.37% and a negative net margin of 3.65%. On average, equities analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Freshworks from $18.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Freshworks in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of Freshworks in a research report on Friday, September 12th. Canaccord Genuity Group cut their target price on shares of Freshworks from $23.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Freshworks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.23.

Institutional Investors Weigh In On Freshworks

A number of institutional investors have recently added to or reduced their stakes in FRSH. Amundi raised its holdings in Freshworks by 1.3% in the first quarter. Amundi now owns 80,074 shares of the company’s stock worth $1,049,000 after purchasing an additional 1,040 shares in the last quarter. Verdence Capital Advisors LLC grew its position in shares of Freshworks by 7.4% in the 2nd quarter. Verdence Capital Advisors LLC now owns 15,547 shares of the company’s stock worth $232,000 after buying an additional 1,070 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Freshworks by 11.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,694 shares of the company’s stock worth $174,000 after acquiring an additional 1,160 shares in the last quarter. Inceptionr LLC lifted its position in Freshworks by 3.6% during the third quarter. Inceptionr LLC now owns 33,583 shares of the company’s stock valued at $395,000 after acquiring an additional 1,174 shares during the last quarter. Finally, Covestor Ltd lifted its position in Freshworks by 25.0% during the third quarter. Covestor Ltd now owns 7,393 shares of the company’s stock valued at $87,000 after acquiring an additional 1,479 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

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.