Fox Run Management L.L.C. Takes Position in Freshworks Inc. $FRSH

Key Points

• Fox Run Management L.L.C. has acquired a new stake in Freshworks Inc., purchasing 47,025 shares worth approximately $664,000 in the 1st quarter.
• Insider activity at Freshworks includes Director Barry L. Padgett selling 7,558 shares, reducing his ownership by 18.80%, while Director Jennifer H. Taylor sold 4,690 shares, decreasing her stake by 9.59%.
• Analysts have varied views on Freshworks, with one sell rating, five hold ratings, eight buy ratings, and a consensus target price of $20.29, indicating a general optimism among brokerage firms.

Fox Run Management L.L.C. purchased a new position in Freshworks Inc. (NASDAQ:FRSH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 47,025 shares of the company's stock, valued at approximately $664,000.

Several other institutional investors have also bought and sold shares of FRSH. LPL Financial LLC purchased a new stake in Freshworks in the fourth quarter worth $703,000. Wells Fargo & Company MN grew its stake in shares of Freshworks by 27.3% during the 4th quarter. Wells Fargo & Company MN now owns 146,276 shares of the company's stock worth $2,365,000 after acquiring an additional 31,405 shares during the period. Envestnet Asset Management Inc. increased its holdings in Freshworks by 9.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 22,439 shares of the company's stock worth $363,000 after acquiring an additional 2,019 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Freshworks in the 4th quarter valued at about $220,000. Finally, Invesco Ltd. raised its stake in Freshworks by 17.6% in the 4th quarter. Invesco Ltd. now owns 150,183 shares of the company's stock valued at $2,428,000 after acquiring an additional 22,523 shares during the period. Hedge funds and other institutional investors own 75.58% of the company's stock.

Wall Street Analysts Forecast Growth

FRSH has been the subject of several recent research reports. Cantor Fitzgerald upgraded shares of Freshworks to an "overweight" rating and set a $20.00 target price for the company in a research note on Tuesday, June 3rd. Wells Fargo & Company raised their price objective on shares of Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Freshworks from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. Morgan Stanley increased their target price on Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Finally, UBS Group cut their price target on Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Freshworks currently has an average rating of "Moderate Buy" and a consensus target price of $20.29.

Insider Transactions at Freshworks

In other news, Director Barry L. Padgett sold 7,558 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $15.14, for a total transaction of $114,428.12. Following the transaction, the director directly owned 32,635 shares in the company, valued at approximately $494,093.90. This represents a 18.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Johanna Flower sold 8,000 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $14.80, for a total value of $118,400.00. Following the completion of the sale, the director owned 48,094 shares of the company's stock, valued at $711,791.20. The trade was a 14.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 200,491 shares of company stock worth $3,101,115. Company insiders own 11.17% of the company's stock.

Freshworks Stock Performance

FRSH traded up $0.7150 on Friday, reaching $13.9150. The company had a trading volume of 2,253,522 shares, compared to its average volume of 3,747,311. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The company has a market cap of $4.06 billion, a price-to-earnings ratio of -77.30 and a beta of 0.94. The business has a 50 day simple moving average of $14.13 and a 200 day simple moving average of $14.81.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The firm had revenue of $204.68 million for the quarter, compared to analyst estimates of $198.85 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The business's revenue for the quarter was up 19.6% compared to the same quarter last year. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. As a group, equities research analysts predict that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

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.