Freshworks Inc. (NASDAQ:FRSH – Get Free Report) Director Roxanne S. Austin sold 6,303 shares of Freshworks stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $18.05, for a total value of $113,769.15. Following the transaction, the director now directly owns 106,713 shares in the company, valued at $1,926,169.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Freshworks Price Performance
NASDAQ:FRSH opened at $18.17 on Thursday. Freshworks Inc. has a 1 year low of $12.22 and a 1 year high of $23.80. The stock’s 50 day simple moving average is $19.03 and its two-hundred day simple moving average is $18.09. The company has a market cap of $5.37 billion, a price-to-earnings ratio of -31.88 and a beta of 0.85.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on FRSH shares. UBS Group lowered their price objective on Freshworks from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Jefferies Financial Group lifted their price objective on Freshworks from $23.00 to $24.00 and gave the company a “hold” rating in a research report on Monday, September 11th. Credit Suisse Group lifted their price objective on Freshworks from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, September 8th. JPMorgan Chase & Co. boosted their price target on Freshworks from $21.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, September 8th. Finally, Bank of America boosted their price target on Freshworks from $17.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, August 3rd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Freshworks presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.76.
Institutional Trading of Freshworks
Large investors have recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC bought a new stake in Freshworks in the 2nd quarter worth approximately $93,000. Ieq Capital LLC increased its position in shares of Freshworks by 51.0% during the 1st quarter. Ieq Capital LLC now owns 313,029 shares of the company’s stock valued at $4,808,000 after purchasing an additional 105,722 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Freshworks by 9.7% during the 1st quarter. CIBC Private Wealth Group LLC now owns 420,067 shares of the company’s stock valued at $34,458,000 after purchasing an additional 36,974 shares during the last quarter. WestBridge Capital Management LLC increased its position in shares of Freshworks by 20.0% during the 1st quarter. WestBridge Capital Management LLC now owns 16,512,210 shares of the company’s stock valued at $253,628,000 after purchasing an additional 2,747,839 shares during the last quarter. Finally, DC Investments Management LLC bought a new position in shares of Freshworks during the 1st quarter valued at approximately $290,000. Institutional investors own 57.35% of the company’s stock.
Freshworks Inc, a software development company, provides modern software-as-a-service products worldwide. It offers Freshdesk Support Desk that enables businesses to delight their customers at every service engagement touchpoint across traditional channels, including email, and modern channels, such as messaging and social media; Freshdesk Contact Center that offers agents with cloud-based telephony system to connect with customers that supports complex call-flows, number and call management, IVR, and routing needs, as well as live dashboard and reports; and Freshdesk Customer Success, which helps customer success managers at business to business (B2B) subscription companies.
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