Several other equities research analysts also recently weighed in on the stock. Piper Sandler cut their target price on shares of Freshworks from $53.00 to $38.00 and set an overweight rating on the stock in a research note on Wednesday. Jefferies Financial Group lowered their price target on shares of Freshworks from $50.00 to $25.00 and set a hold rating for the company in a report on Thursday, January 6th.
Shares of FRSH opened at $23.10 on Wednesday. Freshworks has a fifty-two week low of $20.84 and a fifty-two week high of $53.36. The business’s 50 day simple moving average is $29.06.
In other news, major shareholder Capitalg 2014 Lp sold 2,770 shares of the company’s stock in a transaction on Thursday, November 11th. The shares were sold at an average price of $39.05, for a total value of $108,168.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Zachary Nelson sold 14,063 shares of the company’s stock in a transaction on Wednesday, December 22nd. The shares were sold at an average price of $27.50, for a total transaction of $386,732.50. The disclosure for this sale can be found here. Insiders own 13.10% of the company’s stock.
Several institutional investors have recently modified their holdings of FRSH. Cubist Systematic Strategies LLC purchased a new stake in Freshworks in the 3rd quarter valued at $27,000. Atom Investors LP purchased a new stake in Freshworks in the 3rd quarter valued at $268,000. Squarepoint Ops LLC purchased a new stake in Freshworks in the 3rd quarter valued at $305,000. CNH Partners LLC purchased a new stake in Freshworks in the 3rd quarter valued at $317,000. Finally, Point72 Europe London LLP purchased a new stake in Freshworks in the 3rd quarter valued at $423,000. Institutional investors and hedge funds own 15.98% of the company’s stock.
Freshworks Company Profile
Freshworks Inc develops software solutions for businesses worldwide. It offers Freshdesk, a solution that empower the support team to work together and resolve customer issues; Freshworks CRM, a solution that keep sales team in the know about prospects and close deals; Freshworks 360, a sales, support, marketing, and success platform; and Freshservice, a solution to streamline information technology service and manage internal requests from the employees.
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