Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett Sells 780 Shares of Stock

Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett sold 780 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $14.09, for a total value of $10,990.20. Following the sale, the director now owns 26,957 shares in the company, valued at $379,824.13. The trade was a 2.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Freshworks Stock Performance

FRSH opened at $14.33 on Wednesday. The company has a fifty day moving average of $16.79 and a two-hundred day moving average of $15.15. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of -44.78 and a beta of 0.92. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. On average, equities research analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Smith Group Asset Management LLC acquired a new position in Freshworks during the fourth quarter worth $589,000. Barclays PLC raised its position in shares of Freshworks by 33.4% during the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after purchasing an additional 84,568 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Freshworks in the 3rd quarter valued at about $1,193,000. Raymond James Financial Inc. acquired a new stake in Freshworks in the 4th quarter worth about $20,666,000. Finally, Geode Capital Management LLC increased its stake in Freshworks by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock worth $52,750,000 after buying an additional 66,342 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Analyst Upgrades and Downgrades

FRSH has been the topic of several research analyst reports. UBS Group set a $22.00 target price on shares of Freshworks in a research report on Thursday, February 6th. JMP Securities set a $27.00 price objective on shares of Freshworks in a report on Wednesday, February 12th. Scotiabank raised their target price on Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Robert W. Baird set a $18.00 price target on Freshworks in a research note on Wednesday, February 12th. Finally, Piper Sandler increased their price objective on Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Freshworks currently has an average rating of “Moderate Buy” and a consensus target price of $21.14.

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.