Zachary Nelson Sells 8,433 Shares of Freshworks Inc. (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) Director Zachary Nelson sold 8,433 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total transaction of $133,663.05. Following the completion of the transaction, the director now directly owns 24,187 shares of the company’s stock, valued at approximately $383,363.95. The trade was a 25.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zachary Nelson also recently made the following trade(s):

• On Monday, November 4th, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $12.19, for a total transaction of $102,798.27.

Freshworks Stock Up 1.1 %

FRSH traded up $0.17 during midday trading on Friday, hitting $16.07. The company had a trading volume of 2,899,766 shares, compared to its average volume of 2,737,896. The stock’s 50 day moving average price is $15.42 and its 200 day moving average price is $13.11. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $23.93. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -47.26 and a beta of 0.90.

Wall Street Analysts Forecast Growth

FRSH has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird lowered their target price on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Canaccord Genuity Group upped their price target on Freshworks from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Freshworks in a research note on Tuesday, December 17th. Finally, JMP Securities lifted their price objective on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.69.

Institutional Trading of Freshworks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRSH. Quantbot Technologies LP increased its holdings in shares of Freshworks by 80.1% during the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock valued at $4,895,000 after acquiring an additional 189,616 shares in the last quarter. Sei Investments Co. increased its stake in Freshworks by 191.9% during the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company’s stock valued at $1,216,000 after purchasing an additional 63,006 shares in the last quarter. Barclays PLC raised its holdings in Freshworks by 33.4% during the third quarter. Barclays PLC now owns 337,621 shares of the company’s stock worth $3,875,000 after buying an additional 84,568 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Freshworks in the third quarter valued at $1,193,000. Finally, Intech Investment Management LLC acquired a new position in shares of Freshworks during the third quarter valued at about $867,000. 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.