Acadian Asset Management LLC Buys New Position in Freshworks Inc. $FRSH

Acadian Asset Management LLC bought a new position in shares of Freshworks Inc. (NASDAQ:FRSH) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 193,998 shares of the company’s stock, valued at approximately $2,734,000. Acadian Asset Management LLC owned approximately 0.07% of Freshworks as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Freshworks by 4.5% during the first quarter. Vanguard Group Inc. now owns 26,189,892 shares of the company’s stock worth $369,539,000 after acquiring an additional 1,126,013 shares during the period. TPG GP A LLC increased its holdings in Freshworks by 28.7% during the 4th quarter. TPG GP A LLC now owns 4,346,855 shares of the company’s stock worth $70,289,000 after purchasing an additional 969,283 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Freshworks by 27.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,951,115 shares of the company’s stock valued at $55,750,000 after purchasing an additional 862,315 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Freshworks in the 1st quarter valued at about $48,813,000. Finally, Nuveen LLC acquired a new position in shares of Freshworks during the first quarter worth about $35,129,000. Institutional investors and hedge funds own 75.58% of the company’s stock.

Insider Buying and Selling at Freshworks

In other news, insider Mika Yamamoto sold 4,289 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $13.18, for a total value of $56,529.02. Following the completion of the transaction, the insider owned 533,993 shares in the company, valued at $7,038,027.74. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $13.14, for a total transaction of $110,809.62. Following the completion of the sale, the director owned 38,870 shares in the company, valued at $510,751.80. This represents a 17.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,181 shares of company stock worth $1,107,538. Corporate insiders own 11.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FRSH. Morgan Stanley decreased their price target on shares of Freshworks from $18.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of Freshworks in a report on Friday. Cantor Fitzgerald upgraded Freshworks to an “overweight” rating and set a $20.00 price objective on the stock in a report on Tuesday, June 3rd. Wall Street Zen lowered Freshworks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 23rd. Finally, Piper Sandler upped their price target on Freshworks from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Freshworks Stock Up 0.9%

NASDAQ:FRSH opened at $12.56 on Tuesday. The firm’s fifty day simple moving average is $13.53 and its 200-day simple moving average is $14.24. The stock has a market cap of $3.66 billion, a PE ratio of -69.77 and a beta of 0.94. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $204.68 million during the quarter, compared to analysts’ expectations of $198.85 million. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 earnings per share. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. Equities analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Freshworks Profile

Freshworks Inc, a software development company, provides software-as-a-service products worldwide. It offers Freshworks Customer Service Suite, which provides automated, personalized self-service on various channels, including web, chat, mobile messaging, email, and social; Freshdesk, a ticketing-centric customer service solution; Freshsuccess, a customer success solution; and Freshchat that provides agents with a modern conversational experience to proactively engage customers across digital messaging channels.