Acadian Asset Management LLC Invests $2.73 Million in Freshworks Inc. $FRSH

Key Points

• Acadian Asset Management LLC has acquired nearly 194,000 shares of Freshworks Inc., valued at approximately $2.73 million, marking a new position for the firm during the first quarter.
• Multiple institutional investors increased their stakes in Freshworks, with Vanguard Group raising its position by 4.5% and TPG GP A LLC increasing by 28.7% in Q4.
• Freshworks recently reported a 19.6% increase in revenue year-over-year for the last quarter, with earnings per share of $0.18, exceeding analysts' expectations.

Acadian Asset Management LLC purchased a new position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 193,998 shares of the company's stock, valued at approximately $2,734,000. Acadian Asset Management LLC owned approximately 0.07% of Freshworks at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP purchased a new position in shares of Freshworks in the first quarter valued at $48,813,000. Nuveen LLC acquired a new position in shares of Freshworks during the first quarter valued at $35,129,000. Driehaus Capital Management LLC bought a new position in Freshworks in the 1st quarter worth approximately $34,231,000. Vanguard Group Inc. increased its stake in Freshworks by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 26,189,892 shares of the company's stock valued at $369,539,000 after buying an additional 1,126,013 shares during the period. Finally, TPG GP A LLC raised its stake in shares of Freshworks by 28.7% in the 4th quarter. TPG GP A LLC now owns 4,346,855 shares of the company's stock worth $70,289,000 after buying an additional 969,283 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction, the director owned 38,870 shares of the company's stock, valued at $510,751.80. This trade represents a 17.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mika Yamamoto sold 4,289 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $13.18, for a total value of $56,529.02. Following the transaction, the insider owned 533,993 shares of the company's stock, valued at $7,038,027.74. This represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,771 shares of company stock valued at $1,139,991. 11.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FRSH shares. Cantor Fitzgerald upgraded shares of Freshworks to an "overweight" rating and set a $20.00 price target on the stock in a report on Tuesday, June 3rd. Morgan Stanley dropped their price target on shares of Freshworks from $18.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Friday, September 12th. Wall Street Zen downgraded Freshworks from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Piper Sandler boosted their price target on Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $25.00 target price on shares of Freshworks in a research note on Friday, September 12th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.00.

Freshworks Trading Down 2.1%

Shares of NASDAQ:FRSH traded down $0.28 during midday trading on Friday, reaching $12.89. The company had a trading volume of 5,441,595 shares, compared to its average volume of 3,760,996. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The company's 50 day moving average price is $13.37 and its 200 day moving average price is $14.17. The stock has a market cap of $3.76 billion, a P/E ratio of -71.61 and a beta of 0.94.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $198.85 million. During the same period last year, the business earned $0.08 earnings per share. Freshworks's 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. Research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

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.