Freshworks Inc. (NASDAQ:FRSH - Get Free Report) Director Barry L. Padgett sold 2,345 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $17.30, for a total transaction of $40,568.50. Following the completion of the transaction, the director now owns 26,957 shares in the company, valued at $466,356.10. This represents a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Freshworks Stock Performance
FRSH stock opened at $15.40 on Friday. The stock has a market capitalization of $4.66 billion, a PE ratio of -45.29 and a beta of 0.90. The company has a fifty day moving average of $14.51 and a 200-day moving average of $12.89. Freshworks Inc. has a one year low of $10.81 and a one year high of $24.59.
Institutional Trading of Freshworks
Hedge funds have recently modified their holdings of the business. M&G PLC purchased a new position in Freshworks in the third quarter worth $9,094,000. Lake Street Advisors Group LLC acquired a new position in shares of Freshworks during the 2nd quarter worth $8,717,000. Franklin Resources Inc. increased its holdings in shares of Freshworks by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company's stock valued at $44,934,000 after purchasing an additional 604,658 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Freshworks in the third quarter valued at about $5,260,000. Finally, Bank of New York Mellon Corp boosted its holdings in Freshworks by 35.9% during the second quarter. Bank of New York Mellon Corp now owns 1,588,968 shares of the company's stock worth $20,164,000 after buying an additional 420,135 shares in the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
AI breakthrough about to upend industry
From Porter & Company | Ad
Everyone is talking about AI right now.
The talk has been endless ever since ChatGPT was released to the market in late 2022. You might think it’s way too late to invest in AI.
But here’s the thing.
I urge you to watch it now.
Several equities analysts have issued reports on FRSH shares. Needham & Company LLC restated a "buy" rating and issued a $20.00 price objective on shares of Freshworks in a research note on Tuesday. Wells Fargo & Company upped their target price on Freshworks from $11.00 to $14.00 and gave the company an "equal weight" rating in a research report on Thursday, November 7th. JMP Securities lifted their price target on Freshworks from $21.00 to $24.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 7th. Piper Sandler increased their price objective on Freshworks from $13.00 to $18.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group lifted their target price on shares of Freshworks from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.69.
Read Our Latest Stock Analysis on FRSH
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
