Freshworks Inc’s filing revealed that its Director PADGETT BARRY L. unloaded Company’s shares for reported $14196.0 on Apr 01 ’24. In the deal valued at $18.20 per share,780 shares were sold. As a result of this transaction, PADGETT BARRY L. now holds 17,387 shares worth roughly $0.32 million.
Then, Taylor Jennifer H sold 7,028 shares, generating $134,024 in total proceeds. Upon selling the shares at $19.07, the Director now owns 19,490 shares.
Before that, Flower Johanna sold 4,800 shares. Freshworks Inc shares valued at $91,440 were divested by the Director at a price of $19.05 per share. As a result of the transaction, Flower Johanna now holds 23,451 shares, worth roughly $0.44 million.
Wolfe Research upgraded its Freshworks Inc [FRSH] rating to an Outperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in early January from “a Hold” to “a Buy”. Needham also remained covering FRSH and reiterated its “Buy” recommendation on December 28, 2023. Canaccord Genuity revised its rating on August 02, 2023. It rated FRSH as “a Buy” which previously was an “a Hold”.
Price Performance Review of FRSH
On Monday, Freshworks Inc [NASDAQ:FRSH] saw its stock jump 2.59% to $18.64. Over the last five days, the stock has gained 2.14%. Freshworks Inc shares have fallen nearly -20.65% since the year began. Nevertheless, the stocks have risen 28.20% over the past one year. While a 52-week high of $24.98 was reached on 01/12/24, a 52-week low of $12.22 was recorded on 04/03/24. SMA at 50 days reached $19.82, while 200 days put it at $19.94. A total of 2.39 million shares were traded, compared to the trading of 1.37 million shares in the previous session.
Levels Of Support And Resistance For FRSH Stock
The 24-hour chart illustrates a support level at 18.33, which if violated will result in even more drops to 18.03. On the upside, there is a resistance level at 18.82. A further resistance level may holdings at 19.00. The Relative Strength Index (RSI) on the 14-day chart is 49.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 9.80%. Stochastics %K at 60.27% 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 Mar 15, 2024, growing by 0.51 million shares to a total of 10.59 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 10.08 million shares. There was a rise of 4.82%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.94% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.14.
The most recent change occurred on August 02, 2023 when Oppenheimer resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $23.
