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Selling Buzz: Freshworks Inc [FRSH] Director AUSTIN ROXANNE S sells 25,207 shares of the company

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Freshworks Inc shares valued at $320,129 were sold by AUSTIN ROXANNE S on Jun 10 ’24. At $12.70 per share, AUSTIN ROXANNE S sold 25,207 shares. The insider’s holdings dropped to 225,554 shares worth approximately $2.75 million following the completion of this transaction.

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Also, Taylor Jennifer H sold 7,035 shares, netting a total of over 89,556 in proceeds. Following the sale of shares at $12.73 each, the insider now holds 19,991 shares.

Before that, Flower Johanna had sold 4,800 shares from its account. In a trade valued at $61,008, the Director traded Freshworks Inc shares for $12.71 each. Upon closing the transaction, the insider’s holdings decreased to 4,800 shares, worth approximately $0.29 million.

As published in a research note from Robert W. Baird on May 02, 2024, Freshworks Inc [FRSH] has been rated down from an Outperform to a Neutral and the price target has been revised to $16 from $28. Analysts at Oppenheimer downgraded the stock from ‘”an Outperform”‘ to ‘”a Perform”‘ outlook in a report released in early May. As of February 20, 2024, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for FRSH. Earlier on January 05, 2024, Jefferies 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 -3.72%. Over the course of the year, Freshworks Inc shares have dropped approximately -48.15%. Shares of the company reached a 52-week high of $23.93 on 01/12/24 and a 52-week low of $11.90 on 06/20/24. A 50-day SMA is recorded $14.80, while a 200-day SMA reached $18.84. Nevertheless, trading volume fell to 2.03 million shares from 1.24 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 11.99, which, if violated, would cause prices to drop to 11.80. In the upper region, resistance lies at 12.28. The next price resistance is at 12.39. RSI (Relative Strength Index) is 28.05 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.40, which suggests the price will decrease in the coming days. Percent R is at 80.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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