Freshworks Inc. (NASDAQ:FRSH) director Johanna Flower has sold a total of 4,800 shares of the company's Class A common stock, according to a recent SEC filing. The transactions, which took place on May 10, 2024, were executed at weighted average prices ranging from $13.65 to $13.93 per share, with an average price of $13.74 per share, leading to an aggregate sale amount of $65,952.
The filing indicates that these sales were carried out under a Rule 10b5-1 trading plan, which was previously adopted on June 14, 2023. Rule 10b5-1 trading plans allow company insiders to establish pre-planned transactions at a time when they are not in possession of material non-public information, providing a defense against accusations of insider trading.
In addition to the sale, the report also included an acquisition of 4,800 shares of Class A common stock by Flower, which were obtained at a price of $0.0 per share, indicating that these shares might have been granted to the director as part of her compensation or through a stock option exercise. However, the total transaction value for these acquired shares was $0.
Following these transactions, Flower's ownership in Freshworks Inc. stands at 23,998 shares of Class A common stock directly held.
Investors often monitor insider buying and selling activities as they may provide insights into a company's financial health or the insiders' view of the company's prospects. Freshworks Inc., a provider of software services, has been publicly traded since its name change from FreshDesk Inc. in 2012.
For further details, including the full range of transaction prices and additional information provided by the reporting person, interested parties can refer to the complete Form 4 filing.
InvestingPro Insights
As Freshworks Inc. (NASDAQ:FRSH) sees insider transactions, it's important for investors to consider the company's financial health and potential. According to InvestingPro data, Freshworks holds a market capitalization of approximately $4.13 billion. Despite recent insider sales, the company's gross profit margin remains impressive at 83.33% for the last twelve months as of Q1 2024, indicating strong profitability on its core operations.
InvestingPro Tips reveal that analysts are optimistic about Freshworks' future, with net income expected to grow this year. This is supported by the fact that 15 analysts have revised their earnings upwards for the upcoming period. Additionally, the company's stock has been identified as trading near its 52-week low, which could suggest a potential buying opportunity for value investors, especially considering that Freshworks holds more cash than debt on its balance sheet, providing a solid liquidity position.
For investors seeking deeper insights and additional metrics, InvestingPro offers more tips, including the company's latest revenue growth figures and analyst predictions on profitability. To explore these insights, visit https://www.investing.com/pro/FRSH and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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