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 dated Monday, March 3rd. The shares were sold at an average price of $16.72, for a total transaction of $140,999.76. Following the completion of the sale, the director now owns 24,187 shares of the company’s stock, valued at approximately $404,406.64. The trade was a 25.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, February 3rd, Zachary Nelson sold 8,442 shares of Freshworks stock. The stock was sold at an average price of $18.30, for a total value of $154,488.60.
• On Thursday, January 2nd, Zachary Nelson sold 8,433 shares of Freshworks stock. The stock was sold at an average price of $15.85, for a total value of $133,663.05.

Freshworks Price Performance

Shares of NASDAQ:FRSH opened at $16.63 on Thursday. The firm has a market capitalization of $5.01 billion, a PE ratio of -51.97 and a beta of 0.91. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The firm’s 50-day moving average is $17.22 and its two-hundred day moving average is $14.64.

Freshworks (NASDAQ:FRSH) last announced its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. Analysts expect that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Institutional Trading of Freshworks

Several hedge funds have recently modified their holdings of the stock. Avion Wealth acquired a new position in Freshworks during the 4th quarter worth $26,000. Covestor Ltd grew its stake in Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after purchasing an additional 1,704 shares in the last quarter. Blue Trust Inc. grew its stake in Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after purchasing an additional 954 shares in the last quarter. National Bank of Canada FI grew its stake in Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock worth $64,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after purchasing an additional 2,223 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on FRSH shares. Morgan Stanley raised their target price on Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Oppenheimer raised their price target on shares of Freshworks from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler raised their price target on shares of Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Scotiabank raised their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group raised their price target on shares of Freshworks from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.14.

Freshworks Company Profile

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.