Freshworks Inc.’s recent filing unveils that its Director PADGETT BARRY L. unloaded Company’s shares for reported $0.14 million on Aug 30. In the deal valued at $21.63 per share,6,566 shares were sold. As a result of this transaction, PADGETT BARRY L. now holds 17,387 shares worth roughly $ 0.39 million.
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Then, Taylor Jennifer H sold 7,028 shares, generating $157,006 in total proceeds. Upon selling the shares at $22.34, the Director now owns 25,836 shares.
Before that, Flower Johanna sold 4,700 shares. Freshworks Inc. shares valued at $104,951 were divested by the Director at a price of $22.33 per share. As a result of the transaction, Flower Johanna now holds 29,878 shares, worth roughly $0.66 million.
Canaccord Genuity upgraded its Freshworks Inc. [FRSH] rating to a Buy from a a Hold in a research note published on Tuesday, August 02, 2023; the price target was increased to $25 from $15. PT values the company’s stock at a premium of 11.08 to its Tuesday closing price.
Price Performance Review of FRSH
On Tuesday, Freshworks Inc. [NASDAQ:FRSH] saw its stock fall -0.31% to $22.23. On the same session, the stock had its day’s lowest price of $21.84, but rose to a high of $22.385. Over the last five days, the stock has gained 4.86%. Freshworks Inc. shares have risen nearly 51.12% since the year began. Nevertheless, the stocks have risen 66.14% over the past one year. While a 52-week high of $23.09 was reached on 08/02/23, a 52-week low of $11.92 was recorded on 05/04/23. SMA at 50 days reached $19.36, while 200 days put it at $15.98. A total of 3.42 million shares were traded, compared to the trading of 2.24 million shares in the previous session.
Levels Of Support And Resistance For FRSH Stock
The 24-hour chart illustrates a support level at 21.92, which if violated will result in even more drops to 21.61. On the upside, there is a resistance level at 22.46. A further resistance level may holdings at 22.70. The Relative Strength Index (RSI) on the 14-day chart is 64.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.70, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 14.09%. Stochastics %K at 78.89% indicates the stock is a holding.
How much short interest is there in Freshworks Inc.?
A steep rise in short interest was recorded in Freshworks Inc. stocks on Aug 14, 2023, growing by 100000.0 shares to a total of 14.18 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 14.08 million shares. There was a rise of 0.71%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.54% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.94.
Freshworks Inc. [FRSH] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 15,708,283 shares, or roughly 9.35% of the outstanding FRSH shares. In other words, the investor’s shares have risen by 1,061,532 from its previous 13-F filing of 14646751.0. Over the last quarter, Champlain Investment Partners LLC sold -255,585 shares of Freshworks Inc., while Steadview Capital UK LLP sold 0 shares. At present, AllianceBernstein LP is holding 4,794,336 shares valued at $89.46 million. SSgA Funds Management, Inc. owned 3,294,195 shares of the company at the time of its most recent 13F filing, worth $61.47 million.