Cetera Investment Advisers Acquires 27,700 Shares of Freshworks Inc. $FRSH

Key Points

• Cetera Investment Advisers significantly increased its position in Freshworks Inc. by 235.7% during the first quarter, acquiring a total of 39,454 shares valued at approximately $557,000.
• Insider transactions included Director Jennifer H. Taylor selling 4,690 shares and Director Barry L. Padgett selling 7,558 shares, representing a decrease of 9.59% and 18.80% in their respective ownership stakes.
• Freshworks recently experienced an upgrade from analysts, with Wall Street Zen changing its rating from "buy" to "strong-buy," reflecting positive investor sentiment.

Cetera Investment Advisers grew its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 235.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,454 shares of the company's stock after buying an additional 27,700 shares during the period. Cetera Investment Advisers' holdings in Freshworks were worth $557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in shares of Freshworks during the 1st quarter worth about $70,000. DekaBank Deutsche Girozentrale lifted its position in shares of Freshworks by 91.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock worth $84,000 after purchasing an additional 2,814 shares during the last quarter. Quarry LP lifted its position in shares of Freshworks by 47.8% during the 4th quarter. Quarry LP now owns 5,410 shares of the company's stock worth $87,000 after purchasing an additional 1,750 shares during the last quarter. GAMMA Investing LLC raised its holdings in Freshworks by 2,639.5% in the 1st quarter. GAMMA Investing LLC now owns 9,369 shares of the company's stock valued at $132,000 after acquiring an additional 9,027 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in Freshworks in the 4th quarter valued at approximately $167,000. Institutional investors and hedge funds own 75.58% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on FRSH shares. Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 price target for the company in a report on Tuesday, June 3rd. Piper Sandler upped their price target on Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Morgan Stanley upped their price target on Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Wells Fargo & Company upped their price target on Freshworks from $11.00 to $12.00 and gave the company an "underweight" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen raised Freshworks from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 29th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Freshworks has a consensus rating of "Moderate Buy" and an average target price of $20.29.

Freshworks Stock Down 1.6%

NASDAQ:FRSH traded down $0.2150 during trading hours on Wednesday, hitting $13.0650. 1,341,884 shares of the stock were exchanged, compared to its average volume of 3,748,127. The company's 50 day moving average is $14.23 and its two-hundred day moving average is $14.86. The company has a market capitalization of $3.81 billion, a P/E ratio of -72.63 and a beta of 0.94. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $198.85 million. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The firm's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $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. On average, equities research analysts expect that Freshworks Inc. will post -0.19 EPS for the current year.

Insider Buying and Selling at Freshworks

In related news, Director Johanna Flower sold 8,000 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $14.80, for a total transaction of $118,400.00. Following the sale, the director owned 48,094 shares of the company's stock, valued at approximately $711,791.20. This trade represents a 14.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jennifer H. Taylor sold 4,690 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $12.53, for a total value of $58,765.70. Following the transaction, the director owned 44,218 shares of the company's stock, valued at approximately $554,051.54. This trade represents a 9.59% 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 in the last three months. 11.17% of the stock is owned by insiders.

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.