Roxanne S. Austin Sells 6,303 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Roxanne S. Austin sold 6,303 shares of Freshworks stock in a transaction on Friday, May 9th. The shares were sold at an average price of $14.75, for a total value of $92,969.25. Following the completion of the transaction, the director now owns 169,586 shares of the company’s stock, valued at approximately $2,501,393.50. This trade represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Freshworks Stock Performance

FRSH opened at $15.98 on Wednesday. The business’s 50-day simple moving average is $14.10 and its 200-day simple moving average is $15.59. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The stock has a market capitalization of $4.71 billion, a P/E ratio of -49.94 and a beta of 0.97.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The firm had revenue of $196.27 million for the quarter, compared to analysts’ expectations of $191.90 million. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. On average, equities research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Freshworks

Several institutional investors have recently added to or reduced their stakes in FRSH. Avion Wealth acquired a new position in Freshworks in the 4th quarter valued at about $26,000. Blue Trust Inc. increased its position in Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after purchasing an additional 954 shares during the period. National Bank of Canada FI increased its position in Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock worth $64,000 after purchasing an additional 3,700 shares during the period. FNY Investment Advisers LLC acquired a new position in Freshworks during the 1st quarter worth approximately $70,000. Finally, Nisa Investment Advisors LLC increased its position in Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after purchasing an additional 2,223 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on FRSH shares. Cantor Fitzgerald lifted their price target on Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. UBS Group decreased their price target on Freshworks from $22.00 to $19.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Scotiabank lifted their price target on Freshworks from $14.00 to $18.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. Barclays lifted their price target on Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $22.00 price target (up from $20.00) on shares of Freshworks in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.21.

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.