Freshworks Inc. (NASDAQ:FRSH – Get Free Report) CAO Philippa Lawrence sold 52,767 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $13.25, for a total value of $699,162.75. Following the sale, the chief accounting officer owned 389,296 shares of the company’s stock, valued at approximately $5,158,172. This trade represents a 11.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Philippa Lawrence also recently made the following trade(s):
- On Monday, July 6th, Philippa Lawrence sold 3,470 shares of Freshworks stock. The shares were sold at an average price of $10.13, for a total value of $35,151.10.
- On Wednesday, June 17th, Philippa Lawrence sold 10,530 shares of Freshworks stock. The stock was sold at an average price of $9.18, for a total value of $96,665.40.
Freshworks Stock Performance
FRSH opened at $12.73 on Friday. The firm has a market cap of $3.32 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 10.61 and a beta of 0.89. The business has a 50 day moving average price of $11.63 and a 200 day moving average price of $9.61. Freshworks Inc. has a twelve month low of $6.79 and a twelve month high of $13.99.
Analyst Ratings Changes
A number of equities research analysts have issued reports on FRSH shares. Wall Street Zen upgraded shares of Freshworks from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Citigroup reissued a “market outperform” rating on shares of Freshworks in a research report on Tuesday, June 2nd. Robert W. Baird set a $13.00 target price on Freshworks in a research note on Wednesday, August 5th. Morgan Stanley lowered their target price on Freshworks from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Finally, UBS Group lifted their price target on Freshworks from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.17.
View Our Latest Stock Analysis on FRSH
Institutional Investors Weigh In On Freshworks
Hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in Freshworks by 954.9% during the fourth quarter. IFP Advisors Inc now owns 2,152 shares of the company’s stock valued at $26,000 after acquiring an additional 1,948 shares during the period. Summit Securities Group LLC bought a new stake in shares of Freshworks in the 4th quarter worth approximately $26,000. Nykredit A S bought a new stake in shares of Freshworks in the 2nd quarter worth approximately $28,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Freshworks during the 4th quarter worth approximately $36,000. Finally, Allworth Financial LP grew its holdings in shares of Freshworks by 479.9% during the 4th quarter. Allworth Financial LP now owns 3,201 shares of the company’s stock worth $39,000 after purchasing an additional 2,649 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.
About Freshworks
Freshworks, Inc is a global provider of cloud-based customer engagement software designed to help businesses streamline customer support, sales, marketing, and IT service operations. The company’s integrated suite of solutions enables organizations of all sizes to deliver seamless experiences across multiple channels, including email, chat, phone, and social media. Freshworks’ platform is built on modern, user-friendly interfaces and offers native automation, AI-powered insights, and analytics to improve efficiency and customer satisfaction.
The company’s flagship product, Freshdesk, serves as a helpdesk solution for customer support teams, while Freshservice addresses IT service management needs.
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