Canada Pension Plan Investment Board Has $3.75 Million Stock Holdings in Freshworks Inc. $FRSH

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Freshworks Inc. by 24.7%, selling 87,100 shares and holding 265,800 shares worth approximately $3.75 million.
• Analysts have a consensus rating of "Moderate Buy" for Freshworks shares, with a target price averaging $20.29.
• Freshworks reported a 19.6% year-over-year increase in revenue, totaling $204.68 million, and beat earnings expectations with $0.18 EPS compared to a forecast of $0.12.

Canada Pension Plan Investment Board decreased its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 24.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 265,800 shares of the company's stock after selling 87,100 shares during the period. Canada Pension Plan Investment Board owned about 0.09% of Freshworks worth $3,750,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Eminence Capital LP bought a new stake in shares of Freshworks during the fourth quarter valued at approximately $86,002,000. Wellington Management Group LLP acquired a new position in Freshworks in the 1st quarter worth approximately $48,813,000. Nuveen LLC acquired a new stake in shares of Freshworks during the 1st quarter valued at $35,129,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Freshworks by 625.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,631,949 shares of the company's stock valued at $26,389,000 after buying an additional 1,407,033 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Freshworks by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 26,189,892 shares of the company's stock valued at $369,539,000 after purchasing an additional 1,126,013 shares during the last quarter. Institutional investors own 75.58% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on FRSH. Wall Street Zen downgraded shares of Freshworks from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 23rd. Piper Sandler boosted their price target on shares of Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Cantor Fitzgerald upgraded shares of Freshworks to an "overweight" rating and set a $20.00 target price on the stock in a research report on Tuesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.29.

Insider Buying and Selling at Freshworks

In related news, Director Johanna Flower sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total transaction of $118,400.00. Following the completion of the transaction, the director directly owned 48,094 shares in the company, valued at $711,791.20. This represents a 14.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry L. Padgett sold 7,558 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $15.14, for a total transaction of $114,428.12. Following the completion of the transaction, the director owned 32,635 shares of the company's stock, valued at approximately $494,093.90. This trade represents a 18.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,654 shares of company stock worth $3,195,828 over the last 90 days. 11.17% of the stock is owned by corporate insiders.

Freshworks Stock Down 1.3%

Shares of NASDAQ FRSH traded down $0.17 during midday trading on Friday, reaching $12.84. The company's stock had a trading volume of 4,705,218 shares, compared to its average volume of 3,978,615. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The business's 50 day moving average price is $13.79 and its two-hundred day moving average price is $14.44.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The company had revenue of $204.68 million during the quarter, compared to the consensus estimate of $198.85 million. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The firm's quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 earnings per share. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. On average, equities research analysts expect that Freshworks Inc. will post -0.19 earnings per share 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.