Freshworks (NASDAQ:FRSH) CAO Sells $70,502.76 in Stock

Freshworks Inc. (NASDAQ:FRSH) CAO Philippa Lawrence sold 5,846 shares of Freshworks stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $12.06, for a total value of $70,502.76. Following the completion of the transaction, the chief accounting officer owned 392,711 shares of the company’s stock, valued at approximately $4,736,094.66. This trade represents a 1.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Philippa Lawrence also recently made the following trade(s):

• On Monday, November 17th, Philippa Lawrence sold 644 shares of Freshworks stock. The shares were sold at an average price of $12.05, for a total value of $7,760.20.
• On Monday, October 6th, Philippa Lawrence sold 866 shares of Freshworks stock. The stock was sold at an average price of $11.45, for a total value of $9,915.70.
• On Monday, September 15th, Philippa Lawrence sold 2,590 shares of Freshworks stock. The shares were sold at an average price of $12.53, for a total transaction of $32,452.70.

Freshworks Stock Performance

FRSH stock traded up $0.22 during mid-day trading on Wednesday, reaching $12.44. 3,987,723 shares of the stock traded hands, compared to its average volume of 3,793,189. Freshworks Inc. has a one year low of $10.51 and a one year high of $19.77. The stock has a market capitalization of $3.51 billion, a PE ratio of -124.34 and a beta of 0.89. The business has a 50-day moving average price of $11.55 and a two-hundred day moving average price of $13.20.

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

Analyst Upgrades and Downgrades

FRSH has been the topic of a number of analyst reports. Robert W. Baird cut their target price on Freshworks from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. Morgan Stanley cut their price objective on Freshworks from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, September 12th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 target price on shares of Freshworks in a research note on Friday, September 12th. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of Freshworks in a research note on Friday, September 12th. Finally, UBS Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Freshworks in a research note on Friday, November 14th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.23.

Hedge Funds Weigh In On Freshworks

Several institutional investors have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Freshworks in the second quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Freshworks in the 3rd quarter worth approximately $27,000. Rothschild Investment LLC lifted its position in shares of Freshworks by 560.0% in the 3rd quarter. Rothschild Investment LLC now owns 2,277 shares of the company’s stock worth $27,000 after purchasing an additional 1,932 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Freshworks by 136.2% during the third quarter. SBI Securities Co. Ltd. now owns 2,745 shares of the company’s stock valued at $32,000 after purchasing an additional 1,583 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Freshworks during the third quarter valued at approximately $67,000. Hedge funds and other 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.