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

Freshworks Inc. (NASDAQ:FRSH) Director Barry L. Padgett sold 780 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $14.09, for a total value of $10,990.20. Following the completion of the sale, the director now owns 17,387 shares of the company’s stock, valued at $244,982.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Freshworks Trading Down 3.1 %

Freshworks stock traded down $0.44 during trading on Wednesday, hitting $13.82. 2,337,223 shares of the company were exchanged, compared to its average volume of 2,841,423. The company has a market capitalization of $4.12 billion, a P/E ratio of -34.55 and a beta of 0.88. The business’s 50 day moving average is $18.04 and its 200 day moving average is $19.92. Freshworks Inc. has a 52 week low of $13.01 and a 52 week high of $24.98.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. Freshworks had a negative net margin of 18.93% and a negative return on equity of 10.66%. The firm had revenue of $160.11 million during the quarter, compared to analyst estimates of $158.11 million. Equities analysts expect that Freshworks Inc. will post -0.37 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on FRSH. Wolfe Research upgraded Freshworks from a “peer perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research report on Tuesday, February 20th. Oppenheimer lowered Freshworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Robert W. Baird downgraded Freshworks from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $28.00 to $16.00 in a report on Thursday, May 2nd. Barclays cut their price target on Freshworks from $20.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, May 3rd. Finally, Cantor Fitzgerald dropped their target price on shares of Freshworks from $25.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Freshworks currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.59.

Institutional Investors Weigh In On Freshworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new position in Freshworks during the third quarter valued at $81,000. Quest Partners LLC purchased a new position in shares of Freshworks in the fourth quarter worth about $166,000. Northside Capital Management LLC purchased a new position in Freshworks during the 4th quarter valued at about $226,000. Xponance Inc. purchased a new position in Freshworks during the 4th quarter valued at about $231,000. Finally, SG Americas Securities LLC bought a new stake in Freshworks during the 1st quarter valued at approximately $179,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.

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.