Algert Global LLC Sells 79,896 Shares of 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 cut its holdings in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 13.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 529,714 shares of the company's stock after selling 79,896 shares during the quarter. Algert Global LLC owned approximately 0.18% of Freshworks worth $7,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Freshworks by 4.5% in the first 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 in the last quarter. Eminence Capital LP acquired a new stake in shares of Freshworks in the fourth quarter valued at $86,002,000. TPG GP A LLC increased its stake in shares of Freshworks by 28.7% in the fourth quarter. TPG GP A LLC now owns 4,346,855 shares of the company's stock valued at $70,289,000 after buying an additional 969,283 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Freshworks in the fourth quarter valued at $49,946,000. Finally, Nuveen LLC acquired a new stake in shares of Freshworks in the first quarter valued at $35,129,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Freshworks

In other news, Director Jennifer H. Taylor sold 7,558 shares of Freshworks stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $15.13, for a total transaction of $114,352.54. Following the transaction, the director owned 44,218 shares in the company, valued at $669,018.34. The trade was a 14.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Rathnagirish Mathrubootham sold 70,997 shares of Freshworks stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $16.01, for a total value of $1,136,661.97. Following the transaction, the chairman owned 724,515 shares in the company, valued at $11,599,485.15. This trade represents a 8.92% 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 worth $3,101,115 over the last three months. Company insiders own 11.17% of the company's stock.

Freshworks Price Performance

Shares of Freshworks stock traded up $0.77 during trading on Friday, hitting $13.97. 5,881,890 shares of the company were exchanged, compared to its average volume of 3,762,321. The firm has a market capitalization of $4.07 billion, a P/E ratio of -77.61 and a beta of 0.94. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77. The firm's fifty day moving average price is $14.13 and its 200 day moving average price is $14.81.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. The company had revenue of $204.68 million during the quarter, compared to analyst estimates 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 for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $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. As a group, equities research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FRSH shares. UBS Group lowered their target price on Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. 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. Scotiabank lifted their price objective on Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. JMP Securities reiterated a "market outperform" rating and issued a $27.00 price objective on shares of Freshworks in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lifted their price objective on Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Freshworks presently has an average rating of "Moderate Buy" and an average price target of $20.29.

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.