Market News

Freshworks (NASDAQ:FRSH) Stock: Insider Continues Buying Spree

Story Highlights

A Director of Freshworks continues to buy FRSH stock as he has a high conviction in the long-term growth potential of the company.

Sameer Gandhi, Director, and owner of more than 10% of Freshworks Inc. (FRSH) continued his buying spree with an additional purchase of 785,811 shares of the Software-as-a-Service company. The total consideration of the purchases stood at $11,561,522.

As per a regulatory filing dated September 20, Gandhi made multiple purchases of FRSH stock for weighted average purchase prices of $14.78 and $14.66 per piece. The purchases were conducted on September 19 and 20.

As per TipRanks’ Insider Trading Activity, this is the director’s third informative Buy trade of FRSH stock. Last week, Gandhi purchased Freshworks shares worth $3.76 million. Similarly, on September 9 and 12, Gandhi bought FRSH stock worth $11.5 million.

Notably, TipRanks’ Insider Trading Activity Tool also provides a comprehensive list of daily insider transactions as well as a list of top corporate insiders. Interestingly, TipRanks also includes a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.

Is FRSH a Good Stock to Buy?

Wall Street analysts are split on FRSH stock’s future trajectory. On TipRanks, FRSH stock has a Moderate Buy consensus rating. This is based on eight Buys and three Holds. The average Freshworks price target of $18.45 implies 31.4% upside potential to current levels. Meanwhile, the stock has lost 45.2% so far this year.


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