Freshworks Inc. $FRSH Shares Bought by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its holdings in Freshworks Inc. by 198.8% during the first quarter, now owning a total of 40,397 shares worth approximately $570,000.
• Freshworks posted $0.18 earnings per share for the latest quarter, surpassing analyst expectations of $0.12, with revenue rising 19.6% year-over-year.
• The company's stock currently has a consensus rating of "Moderate Buy" with a price target of around $20.29, reflecting positive sentiment from analysts despite a negative return on equity.

Bayforest Capital Ltd boosted its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 198.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,397 shares of the company's stock after purchasing an additional 26,876 shares during the quarter. Bayforest Capital Ltd's holdings in Freshworks were worth $570,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. increased its position in shares of Freshworks by 34.9% during the fourth quarter. Ameriprise Financial Inc. now owns 369,370 shares of the company's stock worth $5,973,000 after acquiring an additional 95,463 shares during the period. BNP Paribas Financial Markets purchased a new position in Freshworks in the fourth quarter worth $3,875,000. Cetera Investment Advisers purchased a new position in Freshworks in the fourth quarter worth $190,000. EP Wealth Advisors LLC purchased a new position in shares of Freshworks in the fourth quarter valued at $270,000. Finally, Deutsche Bank AG grew its position in shares of Freshworks by 15.8% in the fourth quarter. Deutsche Bank AG now owns 513,810 shares of the company's stock valued at $8,308,000 after purchasing an additional 70,001 shares during the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

Freshworks Stock Up 1.1%

Shares of FRSH opened at $13.28 on Wednesday. The firm has a market cap of $3.87 billion, a PE ratio of -73.77 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. The company's fifty day moving average is $13.72 and its two-hundred day moving average is $14.38.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. The business 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% compared to the same quarter last year. During the same period in the previous year, the company posted $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. As a group, equities research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Insider Activity

In other Freshworks news, insider Mika Yamamoto sold 4,289 shares of the company'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 directly owned 533,993 shares of the company's stock, valued at $7,038,027.74. This represents a 0.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Barry L. Padgett sold 7,558 shares of the company'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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,496 shares of company stock worth $1,046,820 in the last ninety days. 11.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.

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