Wealth Enhancement Advisory Services LLC Sells 1,623 Shares of Freshworks Inc. $FRSH

Wealth Enhancement Advisory Services LLC cut its stake in Freshworks Inc. (NASDAQ:FRSH) by 6.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,255 shares of the company’s stock after selling 1,623 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Freshworks were worth $384,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FRSH. GAMMA Investing LLC increased 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 worth $132,000 after acquiring an additional 9,027 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Freshworks by 18.1% in the 1st quarter. Rhumbline Advisers now owns 325,704 shares of the company’s stock worth $4,596,000 after acquiring an additional 49,873 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Freshworks by 303.0% in the 1st quarter. SG Americas Securities LLC now owns 56,057 shares of the company’s stock worth $791,000 after acquiring an additional 42,148 shares in the last quarter. Sapient Capital LLC increased its stake in shares of Freshworks by 18.7% in the 1st quarter. Sapient Capital LLC now owns 25,195 shares of the company’s stock worth $356,000 after acquiring an additional 3,974 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Freshworks in the 1st quarter worth about $70,000. 75.58% of the stock is currently owned by institutional investors.

Freshworks Stock Down 1.1%

Shares of NASDAQ FRSH opened at $11.18 on Wednesday. The firm’s 50-day moving average price is $12.84 and its 200-day moving average price is $13.89. The company has a market cap of $3.26 billion, a PE ratio of -62.11 and a beta of 0.91. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77.

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 analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $204.68 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 EPS. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. As a group, equities research analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FRSH. Piper Sandler increased their price target on shares of Freshworks from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. 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, September 12th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of Freshworks in a research note on Friday, September 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Freshworks in a research note on Saturday, September 27th. Finally, Wall Street Zen lowered shares of Freshworks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.07.

Insider Buying and Selling at Freshworks

In related news, Director Jennifer H. Taylor sold 4,690 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $12.53, for a total value of $58,765.70. Following the transaction, the director owned 44,218 shares of the company’s stock, valued at approximately $554,051.54. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mika Yamamoto sold 4,289 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $13.00, for a total transaction of $55,757.00. Following the completion of the transaction, the insider directly owned 566,198 shares in the company, valued at approximately $7,360,574. The trade was a 0.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,014 shares of company stock worth $601,475. 11.17% of the stock is owned by corporate insiders.

Freshworks Company 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.