First Trust Advisors LP Buys 177,963 Shares of Freshworks Inc. $FRSH

Key Points

• First Trust Advisors LP increased its Freshworks stake by 209.6% in the first quarter, buying 177,963 additional shares to own 262,849 shares worth approximately $2.11 million. Institutional investors collectively held 75.58% of the stock.
• Freshworks insiders sold 27,236 shares worth about $270,331 over the past 90 days, while analysts maintained a mixed outlook. The consensus rating is “Hold”, with an average price target of $14.17.
• Freshworks beat quarterly expectations, reporting adjusted EPS of $0.17 versus the $0.13 consensus and revenue of $237.38 million, up 16% year over year. Shares opened at $11.83, compared with a 52-week range of $6.79 to $14.06.

First Trust Advisors LP boosted its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 209.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 262,849 shares of the company's stock after purchasing an additional 177,963 shares during the period. First Trust Advisors LP owned about 0.09% of Freshworks worth $2,111,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of Freshworks by 954.9% in the fourth quarter. IFP Advisors Inc now owns 2,152 shares of the company's stock valued at $26,000 after buying an additional 1,948 shares during the period. Summit Securities Group LLC bought a new position in shares of Freshworks during the 4th quarter worth $26,000. Cullen Frost Bankers Inc. bought a new position in shares of Freshworks during the 4th quarter worth $36,000. Allworth Financial LP increased its holdings in Freshworks by 479.9% in the 4th quarter. Allworth Financial LP now owns 3,201 shares of the company's stock worth $39,000 after acquiring an additional 2,649 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Freshworks by 164.0% in the 1st quarter. Meeder Asset Management Inc. now owns 6,156 shares of the company's stock worth $49,000 after acquiring an additional 3,824 shares during the last quarter. 75.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Philippa Lawrence sold 10,530 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $9.18, for a total transaction of $96,665.40. Following the completion of the transaction, the chief accounting officer directly owned 465,823 shares in the company, valued at $4,276,255.14. The trade was a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry L. Padgett sold 6,618 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $10.49, for a total value of $69,422.82. Following the completion of the sale, the director directly owned 47,270 shares in the company, valued at approximately $495,862.30. The trade was a 12.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 27,236 shares of company stock worth $270,331 over the last ninety days. 8.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup reaffirmed a "market outperform" rating on shares of Freshworks in a report on Tuesday, June 2nd. Weiss Ratings reiterated a "sell (d)" rating on shares of Freshworks in a research note on Tuesday. Piper Sandler boosted their price target on shares of Freshworks from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday. Morgan Stanley cut their price objective on shares of Freshworks from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Monday, May 11th. Finally, Zacks Research cut shares of Freshworks from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.17.

Freshworks Price Performance

Shares of NASDAQ:FRSH opened at $11.83 on Friday. The firm has a fifty day moving average price of $10.24 and a two-hundred day moving average price of $9.20. Freshworks Inc. has a one year low of $6.79 and a one year high of $14.06. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 18.48 and a beta of 0.86.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. Freshworks had a net margin of 20.49% and a return on equity of 5.52%. The firm had revenue of $237.38 million for the quarter, compared to analysts' expectations of $233.62 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The business's quarterly revenue was up 16.0% on a year-over-year basis. Freshworks has set its FY 2026 guidance at 0.660-0.680 EPS and its Q3 2026 guidance at 0.180-0.180 EPS. Equities research analysts expect that Freshworks Inc. will post -0.01 EPS for the current fiscal year.

Freshworks Company 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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