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

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.85, for a total transaction of $133,663.05. Following the completion of the transaction, the director now directly owns 24,187 shares of the company’s stock, valued at approximately $383,363.95. The trade was a 25.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, November 4th, Zachary Nelson sold 8,433 shares of Freshworks stock. The shares were sold at an average price of $12.19, for a total value of $102,798.27.

Freshworks Stock Up 1.1 %

NASDAQ:FRSH opened at $16.07 on Friday. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $23.93. The stock’s 50 day moving average price is $15.51 and its two-hundred day moving average price is $13.14. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of -47.26 and a beta of 0.90.

Institutional Investors Weigh In On Freshworks

A number of large investors have recently added to or reduced their stakes in FRSH. Bank of New York Mellon Corp increased its holdings in shares of Freshworks by 35.9% in the second quarter. Bank of New York Mellon Corp now owns 1,588,968 shares of the company’s stock valued at $20,164,000 after purchasing an additional 420,135 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Freshworks by 32.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,047 shares of the company’s stock valued at $470,000 after buying an additional 9,180 shares during the last quarter. Principal Financial Group Inc. grew its stake in Freshworks by 26.4% in the 2nd quarter. Principal Financial Group Inc. now owns 27,541 shares of the company’s stock valued at $349,000 after buying an additional 5,745 shares during the last quarter. International Assets Investment Management LLC bought a new position in Freshworks in the 2nd quarter valued at about $58,000. Finally, Rhumbline Advisers lifted its position in Freshworks by 23.9% during the second quarter. Rhumbline Advisers now owns 281,379 shares of the company’s stock worth $3,571,000 after acquiring an additional 54,293 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

FRSH has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Robert W. Baird cut their price objective on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. JMP Securities increased their target price on shares of Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research note on Tuesday, December 17th. Finally, Piper Sandler boosted their price target on shares of Freshworks from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Freshworks has an average rating of “Moderate Buy” and an average target price 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.