Freshworks (NASDAQ:FRSH) Sees Large Volume Increase – Should You Buy?

Freshworks Inc. (NASDAQ:FRSH) shares saw an uptick in trading volume on Tuesday . 2,298,693 shares changed hands during mid-day trading, a decline of 21% from the previous session’s volume of 2,919,502 shares.The stock last traded at $15.96 and had previously closed at $16.10.

Analyst Ratings Changes

Several brokerages have recently issued reports on FRSH. JPMorgan Chase & Co. increased their price target on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their price objective on Freshworks from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Freshworks in a report on Thursday, November 7th. JMP Securities upped their price target on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird decreased their price objective on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Freshworks has a consensus rating of “Moderate Buy” and an average target price of $18.69.

Freshworks Trading Down 0.7 %

The stock’s 50-day moving average is $13.14 and its 200-day moving average is $12.61.

Insiders Place Their Bets

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total transaction of $52,331.45. Following the completion of the transaction, the director now directly owns 35,853 shares of the company’s stock, valued at $400,478.01. This trade represents a 11.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $93,199.68. Following the completion of the sale, the director now directly owns 23,497 shares of the company’s stock, valued at $259,406.88. The trade was a 26.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,250 shares of company stock worth $300,201 in the last quarter. 19.15% of the stock is owned by corporate insiders.

Institutional Trading of Freshworks

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after acquiring an additional 2,822 shares during the last quarter. CWM LLC lifted its position in shares of Freshworks by 554.5% in the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock worth $43,000 after buying an additional 2,878 shares during the last quarter. Covestor Ltd lifted its position in shares of Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after buying an additional 1,704 shares during the last quarter. Quarry LP boosted its holdings in shares of Freshworks by 157.6% in the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after buying an additional 2,645 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Freshworks during the second quarter worth about $58,000. 75.58% of the stock is owned by institutional investors.

About Freshworks

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.