Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Freshworks Inc shares valued at $14,196 were sold by PADGETT BARRY L. on Apr 01 ’24. At $18.20 per share, PADGETT BARRY L. sold 780 shares. The insider’s holdings dropped to 17,387 shares worth approximately $0.31 million following the completion of this transaction.
Also, Taylor Jennifer H sold 7,028 shares, netting a total of over 134,024 in proceeds. Following the sale of shares at $19.07 each, the insider now holds 19,490 shares.
Before that, Flower Johanna had sold 4,800 shares from its account. In a trade valued at $91,440, the Director traded Freshworks Inc shares for $19.05 each. Upon closing the transaction, the insider’s holdings decreased to 4,800 shares, worth approximately $0.42 million.
As published in a research note from Wolfe Research on February 20, 2024, Freshworks Inc [FRSH] has been rated up from a Peer perform to an Outperform and the price target has been revised to $27. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of December 28, 2023, Needham has reiterated its “Buy” rating for FRSH. Earlier on August 02, 2023, Canaccord Genuity upgraded its rating. Their new recommendation was “a Buy” for FRSH stock which previously was a “a Hold”.
Analyzing FRSH Stock Performance
During the last five days, there has been a drop of approximately -0.44%. Over the course of the year, Freshworks Inc shares have dropped approximately -23.33%. Shares of the company reached a 52-week high of $23.93 on 01/12/24 and a 52-week low of $17.53 on 04/03/24. A 50-day SMA is recorded $19.96, while a 200-day SMA reached $19.92. Nevertheless, trading volume fell to 3.7 million shares from 1.37 million shares the previous day.
Support And Resistance Levels for Freshworks Inc (FRSH)
According to the 24-hour chart, there is a support level at 17.62, which, if violated, would cause prices to drop to 17.23. In the upper region, resistance lies at 18.56. The next price resistance is at 19.11. RSI (Relative Strength Index) is 40.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.30, which suggests the price will decrease in the coming days. Percent R is at 61.22%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Freshworks Inc subject to short interest?
Stocks of Freshworks Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.51 million shares to 10.59 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 10.08 million shares. A jump of 4.82% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.14 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.14.
