Insider Selling: Freshworks Inc. (NASDAQ:FRSH) Insider Sells 2,859 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) insider Mika Yamamoto sold 2,859 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $15.84, for a total transaction of $45,286.56. Following the completion of the sale, the insider now directly owns 400,249 shares of the company’s stock, valued at approximately $6,339,944.16. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, December 17th, Mika Yamamoto sold 5,718 shares of Freshworks stock. The stock was sold at an average price of $16.95, for a total value of $96,920.10.

Freshworks Stock Up 1.1 %

FRSH opened at $16.07 on Friday. The firm has a market capitalization of $4.87 billion, a P/E ratio of -47.26 and a beta of 0.90. The stock has a fifty day moving average of $15.51 and a 200-day moving average of $13.14. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $23.93.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FRSH shares. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Freshworks in a research report on Tuesday, December 17th. Canaccord Genuity Group lifted their target price on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JMP Securities upped their price target on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird cut their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.69.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Everence Capital Management Inc. acquired a new stake in Freshworks during the 4th quarter worth about $190,000. JPMorgan Chase & Co. lifted its position in shares of Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock worth $60,503,000 after purchasing an additional 1,752,995 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Freshworks by 18.1% during the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock worth $44,934,000 after purchasing an additional 604,658 shares during the period. Tidal Investments LLC purchased a new position in Freshworks during the third quarter valued at approximately $534,000. Finally, Geode Capital Management LLC grew its position in Freshworks by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock valued at $52,750,000 after purchasing an additional 66,342 shares in the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

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.