118,886 Shares in Freshworks Inc. $FRSH Purchased by Inlight Wealth Management LLC

Key Points

• Inlight Wealth Management LLC acquired 118,886 shares of Freshworks Inc. valued at approximately $1.77 million during Q2, reflecting strong institutional interest in the company.
• Freshworks reported a quarterly revenue of $204.68 million, exceeding analyst estimates and showing a 19.6% increase year-over-year.
• Recent insider trading included Director Jennifer H. Taylor selling 4,685 shares at an average price of $12.96, leading to a noticeable decline in her ownership stake.

Inlight Wealth Management LLC bought a new stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 118,886 shares of the company's stock, valued at approximately $1,773,000.

Other large investors also recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in Freshworks in the first quarter valued at approximately $70,000. DekaBank Deutsche Girozentrale raised its stake in shares of Freshworks by 91.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock valued at $84,000 after buying an additional 2,814 shares during the period. Liberty Mutual Group Asset Management Inc. purchased a new position in shares of Freshworks during the 1st quarter valued at $106,000. US Bancorp DE lifted its position in shares of Freshworks by 671.4% during 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 last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Freshworks by 2,639.5% during 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 during the period. Hedge funds and other institutional investors own 75.58% of the company's stock.

Freshworks Price Performance

FRSH opened at $11.32 on Monday. The stock's 50 day simple moving average is $12.95 and its 200 day simple moving average is $13.94. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -62.89 and a beta of 0.91. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The firm had revenue of $204.68 million during the quarter, compared to analyst estimates of $198.85 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The business's quarterly revenue 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. As a group, sell-side analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

Insider Activity

In other news, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $12.96, for a total transaction of $60,717.60. Following the completion of the sale, the director directly owned 44,218 shares in the company, valued at approximately $573,065.28. This represents a 9.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $13.14, for a total value of $110,809.62. Following the completion of the sale, the director directly owned 38,870 shares in the company, valued at $510,751.80. The trade was a 17.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,148 shares of company stock worth $591,559. 11.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FRSH. Piper Sandler boosted their price objective on Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Robert W. Baird reduced their target price on shares of Freshworks from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, September 15th. Zacks Research raised shares of Freshworks from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 29th. JMP Securities reaffirmed a "market outperform" rating and issued a $27.00 price objective on shares of Freshworks in a report on Friday, September 12th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Freshworks in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Freshworks currently has an average rating of "Moderate Buy" and an average price target of $20.07.

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.

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