Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Barry L. Padgett sold 780 shares of the company's stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $14.09, for a total value of $10,990.20. Following the completion of the sale, the director now directly owns 17,387 shares of the company's stock, valued at $244,982.83. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Freshworks Price Performance
NASDAQ FRSH opened at $13.94 on Thursday. Freshworks Inc. has a 1-year low of $13.01 and a 1-year high of $24.98. The company has a market capitalization of $4.15 billion, a P/E ratio of -34.55 and a beta of 0.88. The business has a 50 day moving average price of $17.91 and a 200 day moving average price of $19.88.
Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. The firm had revenue of $160.11 million during the quarter, compared to the consensus estimate of $158.11 million. Freshworks had a negative return on equity of 10.66% and a negative net margin of 18.93%. On average, research analysts expect that Freshworks Inc. will post -0.37 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Freshworks
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A number of large investors have recently bought and sold shares of FRSH. Vanguard Group Inc. grew its holdings in Freshworks by 14.6% during the 3rd quarter. Vanguard Group Inc. now owns 18,530,801 shares of the company's stock valued at $369,134,000 after buying an additional 2,363,550 shares during the last quarter. Norges Bank acquired a new stake in Freshworks during the 4th quarter valued at $44,919,000. Lord Abbett & CO. LLC acquired a new stake in Freshworks during the 3rd quarter valued at $34,644,000. Ninety One UK Ltd acquired a new stake in Freshworks during the 4th quarter valued at $36,303,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Freshworks by 511.2% during the third quarter. Acadian Asset Management LLC now owns 1,312,016 shares of the company's stock worth $26,118,000 after purchasing an additional 1,097,369 shares during the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Piper Sandler decreased their target price on Freshworks from $28.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, May 2nd. Cantor Fitzgerald reduced their price objective on Freshworks from $25.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 price objective on shares of Freshworks in a research note on Wednesday. Wolfe Research raised Freshworks from a "peer perform" rating to an "outperform" rating and set a $27.00 price objective for the company in a research note on Tuesday, February 20th. Finally, Morgan Stanley reduced their price objective on Freshworks from $22.00 to $18.00 and set an "equal weight" rating for the company in a research note on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.59.
Check Out Our Latest Stock Analysis on Freshworks
Freshworks Company Profile
(
Get Free Report)
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.
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