The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Freshworks Inc shares valued at $127,193 were sold by Taylor Jennifer H on Apr 10 ’24. At $18.08 per share, Taylor Jennifer H sold 7,035 shares. The insider’s holdings dropped to 19,991 shares worth approximately $0.37 million following the completion of this transaction.
Also, Flower Johanna sold 4,800 shares, netting a total of over 86,928 in proceeds. Following the sale of shares at $18.11 each, the insider now holds 23,998 shares.
Before that, PADGETT BARRY L. had sold 780 shares from its account. In a trade valued at $14,196, the Director traded Freshworks Inc shares for $18.20 each. Upon closing the transaction, the insider’s holdings decreased to 780 shares, worth approximately $0.32 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 surge of approximately 1.50%. Over the course of the year, Freshworks Inc shares have dropped approximately -22.18%. 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 $19.55, while a 200-day SMA reached $19.97. Nevertheless, trading volume fell to 2.16 million shares from 1.82 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 17.80, which, if violated, would cause prices to drop to 17.33. In the upper region, resistance lies at 18.53. The next price resistance is at 18.79. RSI (Relative Strength Index) is 45.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.17, which suggests the price will decrease in the coming days. Percent R is at 46.21%, 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.
