58,800 Shares in Freshworks Inc. $FRSH Purchased by Strs Ohio

Strs Ohio purchased a new position in shares of Freshworks Inc. (NASDAQ:FRSH) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,800 shares of the company’s stock, valued at approximately $830,000.

Other hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in Freshworks in the 1st quarter valued at about $70,000. DekaBank Deutsche Girozentrale raised its holdings in Freshworks by 91.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company’s stock valued at $84,000 after acquiring an additional 2,814 shares during the last quarter. Liberty Mutual Group Asset Management Inc. purchased a new stake in shares of Freshworks in the 1st quarter valued at approximately $106,000. US Bancorp DE grew its stake in shares of Freshworks by 671.4% in the 1st quarter. US Bancorp DE now owns 8,331 shares of the company’s stock valued at $118,000 after buying an additional 7,251 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Freshworks by 2,639.5% in the 1st quarter. GAMMA Investing LLC now owns 9,369 shares of the company’s stock valued at $132,000 after buying an additional 9,027 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Trading Down 2.1%

Shares of FRSH opened at $12.89 on Friday. The firm’s 50-day moving average is $13.37 and its two-hundred day moving average is $14.17. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77. The firm has a market capitalization of $3.76 billion, a P/E ratio of -71.61 and a beta of 0.94.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Cantor Fitzgerald raised shares of Freshworks to an “overweight” rating and set a $20.00 price target for the company in a research note on Tuesday, June 3rd. Piper Sandler increased their price target on shares of Freshworks from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Wall Street Zen cut shares of Freshworks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of Freshworks in a report on Friday, September 12th. Finally, Robert W. Baird dropped their target price on shares of Freshworks from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Insider Buying and Selling

In other Freshworks news, CAO Philippa Lawrence sold 2,590 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $12.53, for a total value of $32,452.70. Following the sale, the chief accounting officer owned 415,949 shares of the company’s stock, valued at $5,211,840.97. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Johanna Flower sold 8,000 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total transaction of $118,400.00. Following the completion of the sale, the director directly owned 48,094 shares in the company, valued at $711,791.20. This trade represents a 14.26% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,771 shares of company stock valued at $1,139,991. 11.17% of the stock is owned by company insiders.

About Freshworks

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.