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 Monday, November 4th. The stock was sold at an average price of $12.19, for a total transaction of $102,798.27. Following the sale, the director now directly owns 23,497 shares in the company, valued at $286,428.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, October 2nd, Zachary Nelson sold 8,442 shares of Freshworks stock. The stock was sold at an average price of $11.04, for a total transaction of $93,199.68.
• On Tuesday, September 3rd, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $11.54, for a total value of $97,316.82.

Freshworks Stock Performance

Shares of Freshworks stock traded up $0.21 on Tuesday, reaching $12.44. 2,787,135 shares of the company were exchanged, compared to its average volume of 2,665,320. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -34.94 and a beta of 0.72. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $24.98. The company’s 50-day moving average is $11.41 and its two-hundred day moving average is $12.63.

Analysts Set New Price Targets

A number of analysts recently issued reports on FRSH shares. JPMorgan Chase & Co. dropped their target price on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Piper Sandler decreased their target price on Freshworks from $17.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Jefferies Financial Group reduced their price target on Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald lowered their price objective on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Barclays dropped their target price on Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.54.

Institutional Investors Weigh In On Freshworks

Several large investors have recently added to or reduced their stakes in FRSH. Blue Trust Inc. increased its holdings in shares of Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock worth $38,000 after acquiring an additional 2,822 shares during the period. Covestor Ltd increased its stake in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after purchasing an additional 1,704 shares during the period. CWM LLC raised its holdings in shares of 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 buying an additional 2,878 shares during the last quarter. 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 buying an additional 757 shares during the period. Finally, Quarry LP increased its position in 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 acquiring an additional 2,645 shares during the period. 75.58% of the stock is owned by institutional investors and hedge funds.

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.