Philippa Lawrence Sells 5,846 Shares of Freshworks (NASDAQ:FRSH) Stock

Freshworks Inc. (NASDAQ:FRSH) CAO Philippa Lawrence sold 5,846 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $12.06, for a total transaction of $70,502.76. Following the completion of the transaction, the chief accounting officer directly owned 392,711 shares of the company’s stock, valued at $4,736,094.66. This represents a 1.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Philippa Lawrence also recently made the following trade(s):

• On Monday, November 17th, Philippa Lawrence sold 644 shares of Freshworks stock. The stock was sold at an average price of $12.05, for a total value of $7,760.20.
• On Monday, October 6th, Philippa Lawrence sold 866 shares of Freshworks stock. The shares were sold at an average price of $11.45, for a total value of $9,915.70.
• On Monday, September 15th, Philippa Lawrence sold 2,590 shares of Freshworks stock. The stock was sold at an average price of $12.53, for a total value of $32,452.70.

Freshworks Price Performance

FRSH stock opened at $12.60 on Friday. The business’s 50-day moving average is $11.55 and its two-hundred day moving average is $13.19. The firm has a market capitalization of $3.55 billion, a P/E ratio of -125.99 and a beta of 0.89. Freshworks Inc. has a 1 year low of $10.51 and a 1 year high of $19.77.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Thursday, September 11th. The company reported $0.18 earnings per share for the quarter. Freshworks had a negative net margin of 3.65% and a negative return on equity of 0.37%. The firm had revenue of $204.68 million for the quarter. On average, analysts expect that Freshworks Inc. will post -0.19 EPS for the current year.

Institutional Trading of Freshworks

A number of large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in shares of Freshworks by 34.1% during the second quarter. Envestnet Asset Management Inc. now owns 110,654 shares of the company’s stock worth $1,650,000 after acquiring an additional 28,152 shares during the last quarter. Geode Capital Management LLC boosted its stake in Freshworks by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,856,163 shares of the company’s stock worth $72,414,000 after purchasing an additional 75,688 shares during the period. Inlight Wealth Management LLC purchased a new position in Freshworks during the 2nd quarter worth $1,773,000. Pier 88 Investment Partners LLC grew its position in Freshworks by 68.6% during the 2nd quarter. Pier 88 Investment Partners LLC now owns 80,680 shares of the company’s stock worth $1,203,000 after purchasing an additional 32,830 shares during the last quarter. Finally, Thoroughbred Financial Services LLC acquired a new position in Freshworks in the second quarter valued at $1,080,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FRSH has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Freshworks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. UBS Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Freshworks in a report on Friday, November 14th. Piper Sandler dropped their price objective on Freshworks from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of Freshworks in a research note on Friday, September 12th. Finally, Zacks Research downgraded Freshworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Freshworks currently has an average rating of “Hold” and a consensus target price of $19.23.

About Freshworks

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.