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

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total transaction of $97,316.82. Following the transaction, the director now owns 22,530 shares of the company’s stock, valued at approximately $259,996.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, August 2nd, Zachary Nelson sold 8,442 shares of Freshworks stock. The stock was sold at an average price of $11.60, for a total value of $97,927.20.

Freshworks Stock Performance

FRSH opened at $11.55 on Thursday. The company has a fifty day moving average price of $12.27 and a two-hundred day moving average price of $14.89. The firm has a market capitalization of $3.45 billion, a PE ratio of -28.88 and a beta of 0.74. Freshworks Inc. has a 52 week low of $10.96 and a 52 week high of $24.98.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Freshworks had a negative return on equity of 9.08% and a negative net margin of 15.72%. The business had revenue of $174.13 million during the quarter, compared to analysts’ expectations of $169.05 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. Equities analysts forecast that Freshworks Inc. will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FRSH shares. Scotiabank cut their price objective on Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, July 31st. Cantor Fitzgerald decreased their price objective on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their target price on Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Canaccord Genuity Group cut their price objective on Freshworks from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, Piper Sandler lowered their target price on Freshworks from $22.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.40.

Institutional Trading of Freshworks

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC grew its holdings in Freshworks by 554.5% during the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after purchasing an additional 2,878 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Freshworks by 34.2% during the first 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. Quarry LP grew its holdings in shares of Freshworks by 157.6% in the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after buying an additional 2,645 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Freshworks in the 2nd quarter valued at $58,000. Finally, EntryPoint Capital LLC acquired a new stake in Freshworks during the 1st quarter worth $82,000. 75.58% of the stock is owned by institutional investors.

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.