Freshworks Inc. (NASDAQ:FRSH) Major Shareholder Leaders 3 Gp Associates Accel Acquires 439,708 Shares

Freshworks Inc. (NASDAQ:FRSHGet Rating) major shareholder Leaders 3 Gp Associates Accel bought 439,708 shares of the stock in a transaction dated Tuesday, September 20th. The shares were bought at an average cost of $14.66 per share, with a total value of $6,446,119.28. Following the completion of the purchase, the insider now directly owns 1,658,273 shares of the company’s stock, valued at approximately $24,310,282.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Leaders 3 Gp Associates Accel also recently made the following trade(s):

  • On Monday, September 12th, Leaders 3 Gp Associates Accel bought 185,697 shares of Freshworks stock. The shares were bought at an average cost of $14.87 per share, with a total value of $2,761,314.39.
  • On Friday, September 9th, Leaders 3 Gp Associates Accel bought 200,800 shares of Freshworks stock. The stock was purchased at an average price of $14.55 per share, with a total value of $2,921,640.00.

Freshworks Stock Performance

Shares of FRSH opened at $13.39 on Friday. The stock has a 50-day simple moving average of $14.24 and a 200-day simple moving average of $15.45. The stock has a market capitalization of $3.83 billion and a PE ratio of -0.53. Freshworks Inc. has a 1 year low of $10.51 and a 1 year high of $53.36.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JMP Securities reduced their target price on shares of Freshworks from $29.00 to $23.00 and set a “market outperform” rating for the company in a report on Wednesday, August 3rd. Morgan Stanley reduced their target price on shares of Freshworks from $23.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, July 14th. Scotiabank began coverage on Freshworks in a research report on Wednesday, June 8th. They set a “sector perform” rating and a $16.00 price objective for the company. Piper Sandler cut their price objective on Freshworks from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, August 3rd. Finally, Canaccord Genuity Group lowered their target price on Freshworks from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Freshworks currently has a consensus rating of “Hold” and a consensus target price of $18.23.

Hedge Funds Weigh In On Freshworks

Several hedge funds and other institutional investors have recently made changes to their positions in FRSH. FourThought Financial LLC purchased a new position in shares of Freshworks in the 1st quarter valued at about $47,000. Quantbot Technologies LP purchased a new position in shares of Freshworks in the 1st quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Freshworks in the 2nd quarter valued at about $136,000. US Bancorp DE boosted its stake in shares of Freshworks by 1,141.4% in the 1st quarter. US Bancorp DE now owns 8,044 shares of the company’s stock valued at $144,000 after buying an additional 7,396 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in shares of Freshworks in the 2nd quarter valued at about $180,000. Hedge funds and other institutional investors own 31.25% of the company’s stock.

Freshworks Company Profile

(Get Rating)

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.

Read More

Insider Buying and Selling by Quarter for Freshworks (NASDAQ:FRSH)

Receive News & Ratings for Freshworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshworks and related companies with MarketBeat.com's FREE daily email newsletter.