Strs Ohio Acquires New Shares in Freshworks Inc. $FRSH

Key Points

• Strs Ohio acquired 58,800 shares of Freshworks Inc. valued at approximately $830,000 in its 1st quarter 13F filing.
• Freshworks reported earnings of $0.18 per share for the last quarter, exceeding expectations, with revenue up 19.6% year-over-year.
• Analysts have varying opinions on Freshworks, with price targets ranging from $16.00 to $25.00 and a consensus rating of "Moderate Buy."

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

Other large investors have also recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in Freshworks in the first quarter worth $70,000. DekaBank Deutsche Girozentrale increased its position 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 in the last quarter. Liberty Mutual Group Asset Management Inc. purchased a new position in shares of Freshworks in the first quarter valued at $106,000. US Bancorp DE increased its position in shares of Freshworks by 671.4% in the first 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 in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Freshworks by 2,639.5% in the first 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 in the last quarter. Hedge funds and other institutional investors own 75.58% of the company's stock.

Insider Activity at Freshworks

In other Freshworks news, Director Johanna Flower sold 8,000 shares of Freshworks stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $14.80, for a total transaction of $118,400.00. Following the sale, the director directly owned 48,094 shares in the company, valued at $711,791.20. The trade was a 14.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $12.96, for a total value of $60,717.60. Following the sale, the director owned 44,218 shares in the company, valued at $573,065.28. This represents a 9.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,771 shares of company stock worth $1,139,991 over the last ninety days. Company insiders own 11.17% of the company's stock.

Freshworks Stock Performance

Shares of NASDAQ:FRSH traded down $0.19 during mid-day trading on Tuesday, hitting $12.92. 137,768 shares of the company traded hands, compared to its average volume of 3,763,976. The firm has a market cap of $3.76 billion, a P/E ratio of -71.80 and a beta of 0.94. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The firm's 50 day simple moving average is $13.35 and its 200 day simple moving average is $14.12.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The business had revenue of $204.68 million for the quarter, compared to the consensus estimate of $198.85 million. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The company's revenue was up 19.6% on a year-over-year basis. During the same period last year, the business 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. Equities research analysts expect that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $25.00 price target on shares of Freshworks in a research report on Friday, September 12th. JMP Securities restated a "market outperform" rating and issued a $27.00 price target on shares of Freshworks in a research report on Friday, September 12th. Piper Sandler raised their price target on Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Robert W. Baird dropped their price objective on Freshworks from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, September 15th. Finally, Cantor Fitzgerald upgraded Freshworks to an "overweight" rating and set a $20.00 price objective for the company in a research report on Tuesday, June 3rd. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $20.00.

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.