Algert Global LLC Has $7.47 Million Stock Position in Freshworks Inc. $FRSH

Key Points

• Algert Global LLC reduced its stake in Freshworks Inc. by 13.1%, now owning 529,714 shares worth approximately $7.47 million.
• Freshworks reported $0.18 earnings per share for the last quarter, surpassing estimates and showing a 19.6% year-over-year revenue increase.
• Institutional investors now own 75.58% of Freshworks' stock, indicating significant interest from hedge funds and investment firms.

Algert Global LLC decreased its position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 529,714 shares of the company's stock after selling 79,896 shares during the period. Algert Global LLC owned about 0.18% of Freshworks worth $7,474,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. LPL Financial LLC acquired a new stake in shares of Freshworks during the 4th quarter worth about $703,000. Wells Fargo & Company MN grew its stake in shares of Freshworks by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 146,276 shares of the company's stock valued at $2,365,000 after purchasing an additional 31,405 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Freshworks by 9.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 22,439 shares of the company's stock valued at $363,000 after purchasing an additional 2,019 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Freshworks in the 4th quarter valued at approximately $220,000. Finally, Invesco Ltd. lifted its holdings in shares of Freshworks by 17.6% in the 4th quarter. Invesco Ltd. now owns 150,183 shares of the company's stock valued at $2,428,000 after buying an additional 22,523 shares during the period. Institutional investors and hedge funds own 75.58% of the company's stock.

Insider Buying and Selling

In other Freshworks news, Chairman Rathnagirish Mathrubootham sold 70,997 shares of Freshworks stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $16.01, for a total transaction of $1,136,661.97. Following the completion of the sale, the chairman owned 724,515 shares of the company's stock, valued at approximately $11,599,485.15. The trade was a 8.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jennifer H. Taylor sold 7,558 shares of Freshworks stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $15.13, for a total transaction of $114,352.54. Following the sale, the director directly owned 44,218 shares of the company's stock, valued at $669,018.34. This represents a 14.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 200,491 shares of company stock valued at $3,101,115 in the last ninety days. 11.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FRSH has been the subject of several research reports. UBS Group reduced their price objective on Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Morgan Stanley upped their target price on Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Wall Street Zen downgraded Freshworks from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Scotiabank upped their target price on Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. Finally, JMP Securities reissued a "market outperform" rating and issued a $27.00 price target on shares of Freshworks in a report on Wednesday, April 30th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.29.

Freshworks Trading Up 5.8%

NASDAQ FRSH traded up $0.77 during trading on Friday, hitting $13.97. 6,067,612 shares of the company traded hands, compared to its average volume of 6,103,152. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The business has a fifty day simple moving average of $14.11 and a 200 day simple moving average of $14.78. The company has a market capitalization of $4.07 billion, a P/E ratio of -77.61 and a beta of 0.94.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $204.68 million for the quarter, compared to the consensus estimate of $198.85 million. During the same period last year, the business posted $0.08 earnings per share. The firm'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. Equities research analysts predict that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

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.