Key Points
- Mika Yamamoto sold 15,012 shares of Freshworks on Dec. 5 at an average price of $13.00 for proceeds of $195,156, leaving her with 490,350 shares (a 2.97% reduction in her ownership).
- Freshworks opened at $13.05 with a market cap of $3.68 billion, a negative P/E of -130.49, a 50-day/200-day moving average of $11.59/$13.13, and a 12-month range of $10.51–$19.77.
- Analysts have an average rating of "Hold" with an average price target of $19.23; the company last reported Q (Sep 11) EPS of $0.18 and revenue of $204.68 million but showed a negative net margin and return on equity.
Freshworks Inc. (NASDAQ:FRSH - Get Free Report) insider Mika Yamamoto sold 15,012 shares of the firm's stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $13.00, for a total transaction of $195,156.00. Following the transaction, the insider directly owned 490,350 shares of the company's stock, valued at $6,374,550. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Freshworks Stock Up 1.7%
Shares of Freshworks stock opened at $13.05 on Wednesday. The stock has a market cap of $3.68 billion, a P/E ratio of -130.49 and a beta of 0.89. The business's 50 day moving average is $11.59 and its 200-day moving average is $13.13. Freshworks Inc. has a 12-month low of $10.51 and a 12-month high of $19.77.
Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings results on Thursday, September 11th. The company reported $0.18 earnings per share (EPS) for the quarter. The business had revenue of $204.68 million during the quarter. Freshworks had a negative return on equity of 0.37% and a negative net margin of 3.65%. On average, sell-side analysts expect that Freshworks Inc. will post -0.19 EPS for the current year.
Analyst Upgrades and Downgrades
FRSH has been the topic of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $25.00 target price on shares of Freshworks in a report on Friday, September 12th. Canaccord Genuity Group decreased their target price on shares of Freshworks from $23.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, November 6th. Piper Sandler lowered their price objective on Freshworks from $25.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, November 7th. Morgan Stanley decreased their price objective on Freshworks from $18.00 to $16.00 and set an "equal weight" rating for the company in a report on Friday, September 12th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $27.00 price target on shares of Freshworks in a research report on Friday, September 12th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $19.23.
Read Our Latest Stock Report on Freshworks
Institutional Trading of Freshworks
Large investors have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Freshworks in the 2nd quarter worth about $25,000. Rothschild Investment LLC grew its stake in Freshworks by 560.0% during the third quarter. Rothschild Investment LLC now owns 2,277 shares of the company's stock worth $27,000 after purchasing an additional 1,932 shares during the period. Meeder Asset Management Inc. bought a new stake in Freshworks in the third quarter worth approximately $27,000. SBI Securities Co. Ltd. lifted its stake in Freshworks by 136.2% in the third quarter. SBI Securities Co. Ltd. now owns 2,745 shares of the company's stock valued at $32,000 after buying an additional 1,583 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Freshworks by 427.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,479 shares of the company's stock worth $67,000 after buying an additional 3,630 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.
About Freshworks
(
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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