Jennifer H. Taylor, director of Freshworks Inc. (NASDAQ:FRSH), sells 4,685 shares

Jennifer H. Taylor, Director of Freshworks Inc. (NASDAQ:FRSH – Get Free Report ), sold 4,685 shares of the company’s stock on Wednesday, July 10. The shares were sold at an average price of $12.28, for a total transaction of $57,531.80. Following the sale, the director now directly owns 35,853 shares of the company’s stock, valued at $440,274.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Freshworks commerce increases by 3.1%

FRSH opened at $12.76 on Friday. The company’s 50-day moving average is $13.04 and its 200-day moving average is $17.70. Freshworks Inc. has a 52-week low of $11.90 and a 52-week high of $24.98.

Freshworks (NASDAQ:FRSH – Get Free Report) last released its quarterly earnings results on Wednesday, May 1. The company reported earnings per share (EPS) of -$0.07 for the quarter, beating analysts’ consensus estimates of -$0.09 by $0.02. The company had revenue of $165.14 million for the quarter, compared to analyst estimates of $163.53 million. Freshworks had a negative net margin of 18.93% and a negative return on equity of 10.66%. On average, sell-side analysts expect that Freshworks Inc. will post earnings per share of -$0.34 for the current year.

Institutional trading with Freshworks

Hedge funds have recently made changes to their positions in the stock. CWM LLC increased its position in shares of Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after buying an additional 2,878 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after buying an additional 757 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Freshworks in the third quarter valued at about $81,000. EntryPoint Capital LLC acquired a new stake in shares of Freshworks in the first quarter valued at about $82,000. Finally, Moody National Bank Trust Division acquired a new stake in shares of Freshworks during the second quarter valued at approximately $144,000. Institutional investors and hedge funds own 75.58% of the company’s shares.

Analysts set new price targets

Several research firms have issued reports on FRSH. JMP Securities decreased their price target on shares of Freshworks from $29.00 to $21.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 2nd. Needham & Company LLC decreased their price target on shares of Freshworks from $30.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. Oppenheimer downgraded Freshworks from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 2nd. Barclays decreased their price target on shares of Freshworks from $20.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Finally, Morgan Stanley lowered their price target on shares of Freshworks from $22.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2. Eight analysts have rated the stock with a hold rating and ten have given a buy rating. The stock currently has a consensus rating of “moderate buy” and an average price target of $21.82, according to data from MarketBeat.com.

Read our latest stock analysis on FRSH

About Freshworks

(Get free report)

Freshworks Inc., a software development company, provides Software-as-a-Service products globally. It offers the Freshworks Customer Service Suite, which delivers automated, personalized self-service across multiple channels including web, chat, mobile messaging, email, and social; Freshdesk, a ticket-centric customer service solution; Freshsuccess, a customer success solution; and Freshchat, which provides agents with a modern conversational experience to proactively engage customers across digital messaging channels.

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