Freshworks Inc. $FRSH Shares Bought by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. has increased its stake in Freshworks Inc. by 125.8%, acquiring an additional 590,609 shares and now holds a total of 1,060,096 shares valued at approximately $14.96 million.
• Freshworks reported earnings of $0.18 per share for the last quarter, exceeding expectations, and achieved a revenue of $204.68 million, demonstrating 19.6% year-over-year growth.
• Several analysts have upgraded Freshworks' stock ratings, with Piper Sandler raising its target price from $22.00 to $25.00 and maintaining an "overweight" rating, reflecting positive market sentiment.

Panagora Asset Management Inc. lifted its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 125.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,060,096 shares of the company's stock after purchasing an additional 590,609 shares during the period. Panagora Asset Management Inc. owned 0.36% of Freshworks worth $14,958,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FRSH. FNY Investment Advisers LLC purchased a new stake in shares of Freshworks in the first quarter valued at approximately $70,000. DekaBank Deutsche Girozentrale raised its stake in Freshworks by 91.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock worth $84,000 after buying an additional 2,814 shares in the last quarter. Liberty Mutual Group Asset Management Inc. bought a new position in Freshworks in the first quarter worth approximately $106,000. US Bancorp DE raised its stake in Freshworks by 671.4% in the first quarter. US Bancorp DE now owns 8,331 shares of the company's stock worth $118,000 after buying an additional 7,251 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Freshworks by 2,639.5% in the 1st quarter. GAMMA Investing LLC now owns 9,369 shares of the company's stock worth $132,000 after acquiring an additional 9,027 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company's stock.

Freshworks Trading Down 1.3%

Shares of FRSH stock traded down $0.17 during trading hours on Friday, reaching $12.84. 4,705,218 shares of the company's stock were exchanged, compared to its average volume of 3,978,615. The stock's 50 day moving average is $13.79 and its 200-day moving average is $14.47. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -71.33 and a beta of 0.94. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. The business 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 business's quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. Equities analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on FRSH. Piper Sandler boosted their price target on Freshworks from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wall Street Zen lowered Freshworks from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Finally, Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 price target for the company in a research report on Tuesday, June 3rd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Freshworks currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.29.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $12.53, for a total transaction of $58,765.70. Following the sale, the director owned 44,218 shares in the company, valued at approximately $554,051.54. The trade was a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mika Yamamoto sold 4,289 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $13.18, for a total value of $56,529.02. Following the sale, the insider owned 533,993 shares in the company, valued at approximately $7,038,027.74. The trade was a 0.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,654 shares of company stock worth $3,195,828. 11.17% of the stock is owned by corporate insiders.

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.