Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson Sells 8,442 Shares

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $11.60, for a total transaction of $97,927.20. Following the completion of the transaction, the director now directly owns 22,530 shares of the company’s stock, valued at approximately $261,348. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, June 3rd, Zachary Nelson sold 8,442 shares of Freshworks stock. The shares were sold at an average price of $12.75, for a total transaction of $107,635.50.

Freshworks Stock Down 2.5 %

Shares of NASDAQ FRSH traded down $0.30 during mid-day trading on Friday, reaching $11.67. 2,265,921 shares of the company were exchanged, compared to its average volume of 2,649,838. The company’s 50-day simple moving average is $12.82 and its 200-day simple moving average is $16.67. The stock has a market capitalization of $3.49 billion, a P/E ratio of -29.37 and a beta of 0.74. Freshworks Inc. has a twelve month low of $11.24 and a twelve month high of $24.98.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.18%. The company had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $163.53 million. As a group, equities research analysts expect that Freshworks Inc. will post -0.34 EPS for the current year.

Institutional Trading of Freshworks

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Board of Trustees of The Leland Stanford Junior University raised its stake in Freshworks by 1.9% in the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 35,019 shares of the company’s stock worth $823,000 after purchasing an additional 638 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Freshworks by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after purchasing an additional 757 shares in the last quarter. California State Teachers Retirement System raised its stake in Freshworks by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 161,706 shares of the company’s stock worth $2,945,000 after purchasing an additional 831 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Freshworks by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,755 shares of the company’s stock worth $250,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Freshworks by 3.6% in the 4th quarter. Arizona State Retirement System now owns 42,120 shares of the company’s stock worth $989,000 after purchasing an additional 1,453 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Robert W. Baird downgraded shares of Freshworks from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $28.00 to $16.00 in a research report on Thursday, May 2nd. StockNews.com downgraded shares of Freshworks from a “buy” rating to a “hold” rating in a research report on Saturday, June 22nd. Scotiabank decreased their target price on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday. Barclays decreased their target price on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Oppenheimer downgraded shares of Freshworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Freshworks presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

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.