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Nelson Zachary, a director at Freshworks Inc . (NASDAQ:FRSH), recently executed significant stock transactions, according to a SEC filing. On March 3, Zachary sold 8,433 shares of Class A Common Stock at an average price of $16.72, totaling approximately $140,999. This sale was conducted under a Rule 10b5-1 trading plan, which was adopted on February 10, 2024. The transaction comes as Freshworks stock has shown strong momentum, gaining over 42% in the past six months, according to InvestingPro data.
In addition to the sale, the filing disclosed that Zachary acquired 8,433 shares of Class A Common Stock at no cost through a conversion of Class B Common Stock. This conversion did not involve any cash transaction.
These transactions are part of Zachary’s ongoing management of his equity holdings in Freshworks, which provides prepackaged software services. The company, currently valued at $4.92 billion, maintains impressive gross profit margins of 84% and holds a "Good" financial health score according to InvestingPro analysis. After these transactions, Zachary’s direct ownership in Freshworks stands at 24,187 shares of Class A Common Stock. Discover more insights about FRSH and access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
In other recent news, Freshworks Inc has seen several analysts adjust their price targets and ratings in response to the company’s financial performance and strategic initiatives. Piper Sandler raised Freshworks’ price target to $24, maintaining an Overweight rating, citing strong growth in the Experience segment and a favorable risk-reward ratio. Cantor Fitzgerald also increased its target to $22, noting Freshworks’ strategic moves upmarket and its competitive positioning. Scotiabank (TSX:BNS) adjusted its target to $19, highlighting the company’s financial outlook for FY25 and the potential for growth in its Customer Experience segment.
Oppenheimer, impressed by Freshworks’ strong fourth-quarter results and optimistic 2025 guidance, lifted the price target to $24 while retaining an Outperform rating. Canaccord Genuity raised its target to $23, maintaining a Buy rating, and pointed to Freshworks’ presence in a robust IT market and a new $400 million stock repurchase program as supportive factors. Across these analyses, Freshworks’ advancements in artificial intelligence and strategic focus on mid-market and enterprise customers were noted as key contributors to its positive outlook. Despite some concerns about the Customer Experience segment’s performance, analysts remain generally optimistic about Freshworks’ future prospects.
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