Freshworks Inc. (NASDAQ:FRSH) Director Sameer K. Gandhi Acquires 346,103 Shares

Freshworks Inc. (NASDAQ:FRSHGet Rating) Director Sameer K. Gandhi bought 346,103 shares of the company’s stock in a transaction dated Monday, September 19th. The stock was bought at an average cost of $14.78 per share, for a total transaction of $5,115,402.34. Following the acquisition, the director now owns 1,258,930 shares of the company’s stock, valued at approximately $18,606,985.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Freshworks Stock Performance

FRSH opened at $13.39 on Friday. The business’s fifty day moving average is $14.24 and its two-hundred day moving average is $15.45. The company has a market cap of $3.83 billion and a price-to-earnings ratio of -0.53. Freshworks Inc. has a one year low of $10.51 and a one year high of $53.36.

Institutional Trading of Freshworks

Institutional investors have recently bought and sold shares of the company. abrdn plc purchased a new stake in Freshworks during the first quarter worth $283,000. Alliancebernstein L.P. lifted its position in shares of Freshworks by 42.4% in the fourth quarter. Alliancebernstein L.P. now owns 2,982,620 shares of the company’s stock valued at $78,324,000 after acquiring an additional 887,912 shares in the last quarter. Wafra Inc. lifted its position in shares of Freshworks by 58.0% in the first quarter. Wafra Inc. now owns 1,030,016 shares of the company’s stock valued at $18,458,000 after acquiring an additional 378,052 shares in the last quarter. Liberty Mutual Group Asset Management Inc. purchased a new stake in shares of Freshworks in the first quarter valued at $2,435,000. Finally, Tiger Global Management LLC lifted its position in shares of Freshworks by 200.3% in the first quarter. Tiger Global Management LLC now owns 2,429,913 shares of the company’s stock valued at $43,544,000 after acquiring an additional 1,620,842 shares in the last quarter. 31.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Morgan Stanley dropped their target price on Freshworks from $23.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Robert W. Baird dropped their target price on Freshworks to $20.00 in a report on Tuesday, August 9th. Oppenheimer dropped their target price on Freshworks from $26.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, August 3rd. Piper Sandler dropped their price objective on Freshworks from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, August 3rd. Finally, Wolfe Research upped their price objective on Freshworks from $14.00 to $15.50 and gave the stock an “outperform” rating in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.23.

About Freshworks

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Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. Freshworks Inc was formerly known as Freshdesk Inc and changed its name to Freshworks Inc in June 2017. The company was incorporated in 2010 and is headquartered in San Mateo, California.

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