Bayforest Capital Ltd increased its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 198.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,397 shares of the company's stock after buying an additional 26,876 shares during the period. Bayforest Capital Ltd's holdings in Freshworks were worth $570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in shares of Freshworks during the 1st quarter valued at approximately $70,000. DekaBank Deutsche Girozentrale lifted its position in shares of Freshworks by 91.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock valued at $84,000 after buying an additional 2,814 shares in the last quarter. Liberty Mutual Group Asset Management Inc. purchased a new position in shares of Freshworks during the 1st quarter valued at approximately $106,000. US Bancorp DE lifted its position in shares of Freshworks by 671.4% during the 1st quarter. US Bancorp DE now owns 8,331 shares of the company's stock valued at $118,000 after buying an additional 7,251 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Freshworks by 2,639.5% during the 1st quarter. GAMMA Investing LLC now owns 9,369 shares of the company's stock valued at $132,000 after buying an additional 9,027 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on FRSH. Wall Street Zen lowered Freshworks from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Needham & Company LLC restated a "buy" rating and issued a $25.00 price objective on shares of Freshworks in a report on Friday. Piper Sandler raised their price objective on Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. JMP Securities restated a "market outperform" rating and issued a $27.00 price objective on shares of Freshworks in a report on Friday. Finally, Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 target price for the company in a research note on Tuesday, June 3rd. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.00.
Check Out Our Latest Research Report on FRSH
Freshworks Stock Performance
Shares of FRSH traded up $0.24 during midday trading on Monday, hitting $12.69. The company had a trading volume of 1,405,659 shares, compared to its average volume of 3,765,357. The company's 50-day simple moving average is $13.57 and its 200-day simple moving average is $14.27. The firm has a market capitalization of $3.70 billion, a P/E ratio of -70.46 and a beta of 0.94. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77.
Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.06. The firm had revenue of $204.68 million during the quarter, compared to analysts' expectations of $198.85 million. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The firm's revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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 predict that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Mika Yamamoto sold 4,289 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $13.18, for a total value of $56,529.02. Following the transaction, the insider owned 533,993 shares of the company's stock, valued at approximately $7,038,027.74. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Barry L. Padgett sold 7,558 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $15.14, for a total value of $114,428.12. Following the completion of the transaction, the director directly owned 32,635 shares in the company, valued at approximately $494,093.90. The trade was a 18.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,181 shares of company stock valued at $1,107,538 in the last 90 days. Company insiders own 11.17% of the company's stock.
About Freshworks
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Free Report)
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.
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