Freshworks (NASDAQ:FRSH) Price Target Raised to $16.00 at Wells Fargo & Company

Freshworks (NASDAQ:FRSH) had its target price raised by Wells Fargo & Company from $14.00 to $16.00 in a report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

FRSH has been the subject of a number of other research reports. Robert W. Baird lowered 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. Canaccord Genuity Group boosted their price objective on shares of Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler increased their target price on shares of Freshworks from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, JMP Securities upped their price objective on shares of Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Freshworks Stock Down 1.2 %

Freshworks stock opened at $16.13 on Tuesday. Freshworks has a 52-week low of $10.81 and a 52-week high of $23.93. The company’s 50 day moving average is $15.68 and its two-hundred day moving average is $13.21. The firm has a market cap of $4.89 billion, a PE ratio of -47.44 and a beta of 0.88.

Insider Transactions at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $11.06, for a total transaction of $51,871.40. Following the sale, the director now directly owns 36,689 shares in the company, valued at approximately $405,780.34. The trade was a 11.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction dated Thursday, January 2nd. The shares were 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 owns 24,187 shares of the company’s stock, valued at $383,363.95. This represents a 25.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,702,168 shares of company stock worth $26,700,318. Company insiders own 19.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FRSH. Principal Financial Group Inc. grew its holdings in shares of Freshworks by 26.4% during the second quarter. Principal Financial Group Inc. now owns 27,541 shares of the company’s stock worth $349,000 after buying an additional 5,745 shares in the last quarter. Rhumbline Advisers increased its holdings in Freshworks by 23.9% in the second quarter. Rhumbline Advisers now owns 281,379 shares of the company’s stock valued at $3,571,000 after buying an additional 54,293 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Freshworks by 165.0% in the 2nd quarter. Victory Capital Management Inc. now owns 59,952 shares of the company’s stock valued at $761,000 after buying an additional 37,330 shares during the period. Arizona State Retirement System increased its position in Freshworks by 9.9% in the second quarter. Arizona State Retirement System now owns 48,855 shares of the company’s stock worth $620,000 after buying an additional 4,412 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Freshworks during the second quarter valued at approximately $304,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

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.