Corient Private Wealth LP Buys 246,526 Shares of Freshworks Inc. $FRSH

Key Points

• Corient Private Wealth doubled its Freshworks position in the second quarter, adding 246,526 shares to own 493,134 shares valued at approximately $4.99 million. Institutional investors now hold 75.58% of the company.
• Freshworks reported quarterly adjusted earnings of $0.17 per share, beating estimates by $0.04, while revenue rose 16% year over year to $237.38 million. The stock opened at $12.25, below its 52-week high of $13.99.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $14.46; KeyCorp issued the highest cited target at $18.00. Company insiders sold 69,473 shares worth about $872,829 over the past quarter.

Corient Private Wealth LP grew its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 100.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 493,134 shares of the company's stock after acquiring an additional 246,526 shares during the period. Corient Private Wealth LP owned 0.19% of Freshworks worth $4,991,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Freshworks during the fourth quarter worth $31,873,000. Renaissance Technologies LLC grew its holdings in Freshworks by 79.1% during the 1st quarter. Renaissance Technologies LLC now owns 4,576,000 shares of the company's stock worth $36,745,000 after acquiring an additional 2,021,412 shares during the period. Jupiter Asset Management Ltd. raised its position in shares of Freshworks by 1,528.6% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,708,811 shares of the company's stock worth $20,933,000 after acquiring an additional 1,603,887 shares in the last quarter. Walleye Capital LLC lifted its stake in Freshworks by 2,480.8% in the first quarter. Walleye Capital LLC now owns 1,247,655 shares of the company's stock valued at $10,019,000 after buying an additional 1,199,311 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Freshworks by 403.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,444,124 shares of the company's stock valued at $11,596,000 after buying an additional 1,157,277 shares during the period. 75.58% of the stock is currently owned by institutional investors.

Freshworks Stock Down 3.7%

NASDAQ FRSH opened at $12.25 on Friday. The company has a market cap of $3.20 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 8.17 and a beta of 0.89. Freshworks Inc. has a 52 week low of $6.79 and a 52 week high of $13.99. The firm's 50-day simple moving average is $12.05 and its two-hundred day simple moving average is $9.96.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. The business had revenue of $237.38 million during the quarter, compared to analyst estimates of $233.62 million. Freshworks had a return on equity of 5.52% and a net margin of 20.49%.The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. Freshworks has set its FY 2026 guidance at 0.660-0.680 EPS and its Q3 2026 guidance at 0.180-0.180 EPS. As a group, equities research analysts anticipate that Freshworks Inc. will post 0.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FRSH shares. Weiss Ratings upgraded Freshworks from a "sell (d)" rating to a "hold (c-)" rating in a report on Tuesday, August 18th. UBS Group increased their target price on Freshworks from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Freshworks from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Citigroup restated a "market outperform" rating on shares of Freshworks in a report on Tuesday, June 2nd. Finally, KeyCorp initiated coverage on shares of Freshworks in a research report on Monday, September 14th. They issued an "overweight" rating and a $18.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Freshworks has a consensus rating of "Moderate Buy" and a consensus target price of $14.46.

Insider Buying and Selling at Freshworks

In related news, Director Barry Padgett sold 6,618 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $10.49, for a total value of $69,422.82. Following the completion of the sale, the director owned 47,270 shares of the company's stock, valued at $495,862.30. This trade represents a 12.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Philippa Lawrence sold 52,767 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $13.25, for a total value of $699,162.75. Following the completion of the sale, the chief accounting officer owned 389,296 shares in the company, valued at $5,158,172. The trade was a 11.94% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 69,473 shares of company stock worth $872,829. 8.54% of the stock is currently owned by company insiders.

Freshworks Company Profile

Freshworks Inc NASDAQ: FRSH develops cloud-based software designed to help businesses manage customer and employee experiences. Its platform is intended for organizations of various sizes and combines tools for customer support, IT service management, sales, marketing and other business functions.

The company's product portfolio includes Freshdesk for customer service and support, Freshservice for IT and employee service management, Freshsales for customer relationship management, and Freshmarketer for marketing automation and optimization.

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