Freshworks Inc’s recent filing unveils that its EXECUTIVE CHAIRMAN Mathrubootham Rathnagirish unloaded Company’s shares for reported $13.43 million on Dec 18 ’24. In the deal valued at $16.08 per share,835,000 shares were sold. As a result of this transaction, Mathrubootham Rathnagirish now holds 551,137 shares worth roughly $8.79 million.
Then, Mathrubootham Rathnagirish sold 835,000 shares, generating $12,900,750 in total proceeds. Upon selling the shares at $15.45, the EXECUTIVE CHAIRMAN now owns 551,137 shares.
Before that, Mathrubootham Rathnagirish sold 830,000 shares. Freshworks Inc shares valued at $12,723,900 were divested by the EXECUTIVE CHAIRMAN at a price of $15.33 per share. As a result of the transaction, Mathrubootham Rathnagirish now holds 551,137 shares, worth roughly $8.79 million.
Wells Fargo initiated its Freshworks Inc [FRSH] rating to an Equal weight in a research note published on October 16, 2024; the price target was $11. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who decreased its forecast for the stock in early May from “an Outperform” to “a Neutral”. Oppenheimer also remained covering FRSH and has decreased its forecast on May 02, 2024 with a “Perform” recommendation from previously “an Outperform” rating. Wolfe Research revised its rating on February 20, 2024. It rated FRSH as “an Outperform” which previously was an “a Peer perform”.
Price Performance Review of FRSH
On Friday, Freshworks Inc [NASDAQ:FRSH] saw its stock fall -0.75% to $15.94. Over the last five days, the stock has gained 3.51%. Freshworks Inc shares have fallen nearly -32.14% since the year began. Nevertheless, the stocks have fallen -32.83% over the past one year. While a 52-week high of $24.15 was reached on 01/12/24, a 52-week low of $10.81 was recorded on 10/10/24. SMA at 50 days reached $14.86, while 200 days put it at $13.93.
Levels Of Support And Resistance For FRSH Stock
The 24-hour chart illustrates a support level at 15.73, which if violated will result in even more drops to 15.51. On the upside, there is a resistance level at 16.14. A further resistance level may holdings at 16.33. The Relative Strength Index (RSI) on the 14-day chart is 51.71, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 63.70%. Stochastics %K at 37.28% 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 2024-12-13, dropping by -1.4 million shares to a total of 9.73 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 11.13 million shares. There was a decline of -14.42%, which implies that there is a negative sentiment for the stock.
