Bank of New York Mellon Corp Boosts Stake in Freshworks Inc. $FRSH

Key Points

• Bank of New York Mellon increased its Freshworks stake by 12.8% in the first quarter, owning 1.17 million shares worth approximately $9.38 million. Institutional investors collectively hold 75.58% of the company.
• Analyst sentiment is mixed, with Freshworks receiving an average “Hold” rating and a consensus price target of $13.25; ratings range from Strong Buy to Sell.
• Freshworks reported quarterly revenue of $228.63 million, up 16.5% year over year, and earnings of $0.11 per share, matching estimates. The stock opened at $11.35, versus a 52-week range of $6.79 to $14.06.

Bank of New York Mellon Corp increased its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 12.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,168,094 shares of the company's stock after acquiring an additional 132,443 shares during the period. Bank of New York Mellon Corp owned approximately 0.41% of Freshworks worth $9,380,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Freshworks by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 27,240,469 shares of the company's stock worth $333,696,000 after buying an additional 922,549 shares in the last quarter. Wellington Management Group LLP grew its position in Freshworks by 9.2% during the fourth quarter. Wellington Management Group LLP now owns 5,359,784 shares of the company's stock worth $65,657,000 after buying an additional 453,627 shares during the period. Geode Capital Management LLC increased its holdings in Freshworks by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,126,112 shares of the company's stock valued at $62,805,000 after buying an additional 95,720 shares in the last quarter. State Street Corp increased its holdings in Freshworks by 1.2% in the fourth quarter. State Street Corp now owns 4,904,684 shares of the company's stock valued at $60,082,000 after buying an additional 56,935 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in shares of Freshworks by 11.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,748,985 shares of the company's stock valued at $58,175,000 after acquiring an additional 478,473 shares during the period. Hedge funds and other institutional investors own 75.58% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup reissued a "market outperform" rating on shares of Freshworks in a research note on Tuesday, June 2nd. Morgan Stanley dropped their price objective on Freshworks from $15.00 to $13.00 and set an "equal weight" rating for the company in a research note on Monday, May 11th. Guggenheim initiated coverage on Freshworks in a report on Wednesday, July 22nd. They set a "buy" rating and a $25.00 price objective for the company. Zacks Research downgraded Freshworks from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Finally, Wall Street Zen lowered Freshworks from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $13.25.

Insider Buying and Selling at Freshworks

In other news, Director Jennifer H. Taylor sold 6,618 shares of Freshworks stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $10.44, for a total transaction of $69,091.92. Following the completion of the sale, the director directly owned 62,673 shares in the company, valued at $654,306.12. The trade was a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry L. Padgett sold 6,618 shares of Freshworks stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $10.49, for a total transaction of $69,422.82. Following the sale, the director owned 47,270 shares of the company's stock, valued at approximately $495,862.30. This trade represents a 12.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 27,236 shares of company stock worth $270,331. Corporate insiders own 8.54% of the company's stock.

Freshworks Stock Performance

Freshworks stock opened at $11.35 on Monday. Freshworks Inc. has a fifty-two week low of $6.79 and a fifty-two week high of $14.06. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 18.31 and a beta of 0.86. The stock has a fifty day moving average of $9.98 and a two-hundred day moving average of $9.18.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $228.63 million for the quarter, compared to the consensus estimate of $223.63 million. Freshworks had a return on equity of 4.27% and a net margin of 20.69%.The business's revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 earnings per share. Freshworks has set its FY 2026 guidance at 0.610-0.630 EPS and its Q2 2026 guidance at 0.130-0.130 EPS. On average, analysts forecast that Freshworks Inc. will post -0.02 EPS for the current fiscal year.

Freshworks Profile

Freshworks, Inc is a global provider of cloud-based customer engagement software designed to help businesses streamline customer support, sales, marketing, and IT service operations. The company's integrated suite of solutions enables organizations of all sizes to deliver seamless experiences across multiple channels, including email, chat, phone, and social media. Freshworks' platform is built on modern, user-friendly interfaces and offers native automation, AI-powered insights, and analytics to improve efficiency and customer satisfaction.

The company's flagship product, Freshdesk, serves as a helpdesk solution for customer support teams, while Freshservice addresses IT service management needs.

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