Graham Capital Management L.P. Sells 47,479 Shares of Freshworks Inc. $FRSH

Key Points

• Graham Capital Management L.P. reduced its stake in Freshworks Inc. by 42.2%, selling 47,479 shares and leaving it with 64,948 shares valued at approximately $916,000.
• Freshworks reported a quarterly revenue of $204.68 million, exceeding expectations, with a significant 19.6% increase compared to the previous year.
• Insider selling activity was notable, with 11.17% of the company's stock owned by insiders, including a director selling shares totaling over $110,000 recently.

Graham Capital Management L.P. lowered its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 42.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,948 shares of the company's stock after selling 47,479 shares during the quarter. Graham Capital Management L.P.'s holdings in Freshworks were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Panagora Asset Management Inc. lifted its holdings in shares of Freshworks by 125.8% in the first quarter. Panagora Asset Management Inc. now owns 1,060,096 shares of the company's stock worth $14,958,000 after buying an additional 590,609 shares in the last quarter. Vident Advisory LLC increased its holdings in Freshworks by 94.2% during the 1st quarter. Vident Advisory LLC now owns 37,956 shares of the company's stock worth $536,000 after acquiring an additional 18,415 shares during the period. Driehaus Capital Management LLC bought a new stake in Freshworks during the 1st quarter worth approximately $34,231,000. Trexquant Investment LP lifted its stake in Freshworks by 59.6% in the 1st quarter. Trexquant Investment LP now owns 1,462,089 shares of the company's stock worth $20,630,000 after purchasing an additional 546,202 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in Freshworks in the 1st quarter valued at $244,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FRSH shares. Wall Street Zen cut shares of Freshworks from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 23rd. Piper Sandler upped their target price on Freshworks from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Cantor Fitzgerald upgraded Freshworks to an "overweight" rating and set a $20.00 price target for the company in a research report on Tuesday, June 3rd. Eight 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.29.

Freshworks Stock Performance

FRSH traded down $0.28 during trading on Wednesday, reaching $13.00. The stock had a trading volume of 3,640,204 shares, compared to its average volume of 3,754,392. The business has a 50-day moving average of $13.68 and a 200-day moving average of $14.37. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The stock has a market cap of $3.79 billion, a PE ratio of -72.22 and a beta of 0.94.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $204.68 million for the quarter, compared to analyst estimates of $198.85 million. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The company's revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the company earned $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. Equities research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Insider Activity

In other news, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $13.14, for a total value of $110,809.62. Following the completion of the sale, the director directly owned 38,870 shares in the company, valued at approximately $510,751.80. The trade was a 17.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Barry L. Padgett sold 7,558 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. In the last three months, insiders sold 74,496 shares of company stock valued at $1,046,820. Insiders own 11.17% of the company's stock.

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.