Osaic Holdings Inc. Buys 72,337 Shares of Freshworks Inc. $FRSH

Osaic Holdings Inc. raised its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 367.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,003 shares of the company’s stock after acquiring an additional 72,337 shares during the quarter. Osaic Holdings Inc.’s holdings in Freshworks were worth $1,353,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its holdings in shares of Freshworks by 34.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 110,654 shares of the company’s stock valued at $1,650,000 after buying an additional 28,152 shares in the last quarter. Geode Capital Management LLC raised its stake in Freshworks by 1.6% during the second quarter. Geode Capital Management LLC now owns 4,856,163 shares of the company’s stock valued at $72,414,000 after buying an additional 75,688 shares during the last quarter. Inlight Wealth Management LLC purchased a new position in shares of Freshworks in the 2nd quarter worth about $1,773,000. Pier 88 Investment Partners LLC raised its position in shares of Freshworks by 68.6% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 80,680 shares of the company’s stock worth $1,203,000 after purchasing an additional 32,830 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its stake in Freshworks by 744.6% in the 2nd quarter. Edgestream Partners L.P. now owns 367,873 shares of the company’s stock worth $5,485,000 after purchasing an additional 324,319 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

FRSH has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Freshworks from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, September 12th. Wells Fargo & Company initiated coverage on shares of Freshworks in a report on Tuesday, September 30th. They issued an “equal weight” rating and a $13.00 price objective for the company. Canaccord Genuity Group lowered their target price on shares of Freshworks from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Robert W. Baird dropped their price target on Freshworks from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. Finally, UBS Group reiterated a “buy” rating and set a $17.00 price target on shares of Freshworks in a research note on Friday, November 14th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.23.

Insider Activity at Freshworks

In other news, CAO Philippa Lawrence sold 5,846 shares of Freshworks stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $12.06, for a total transaction of $70,502.76. Following the sale, the chief accounting officer owned 392,711 shares in the company, valued at $4,736,094.66. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mika Yamamoto sold 15,012 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $13.00, for a total transaction of $195,156.00. Following the transaction, the insider owned 490,350 shares of the company’s stock, valued at approximately $6,374,550. This represents a 2.97% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,368 shares of company stock valued at $283,335. Corporate insiders own 11.17% of the company’s stock.

Freshworks Stock Performance

FRSH opened at $12.25 on Thursday. Freshworks Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $19.77. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -122.49 and a beta of 0.89. The firm’s fifty day moving average is $12.01 and its 200 day moving average is $12.84.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings results on Thursday, September 11th. The company reported $0.18 EPS for the quarter. The business had revenue of $204.68 million for the quarter. Freshworks had a negative return on equity of 0.37% and a negative net margin of 3.65%. On average, equities research analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current year.

About Freshworks

Freshworks, Inc is a global provider of cloud-based customer engagement software designed to help businesses streamline customer support, sales, marketing, and IT service operations. The company’s integrated suite of solutions enables organizations of all sizes to deliver seamless experiences across multiple channels, including email, chat, phone, and social media. Freshworks’ platform is built on modern, user-friendly interfaces and offers native automation, AI-powered insights, and analytics to improve efficiency and customer satisfaction.

The company’s flagship product, Freshdesk, serves as a helpdesk solution for customer support teams, while Freshservice addresses IT service management needs.