Freshworks Inc. $FRSH Holdings Raised by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in Freshworks Inc. by 59.6% during the 1st quarter, now owning approximately 1.46 million shares valued at $20.63 million.
• Freshworks reported $0.18 earnings per share for the recent quarter, exceeding estimates, with a year-over-year revenue increase of 19.6% to $204.68 million.
• Institutional investors own 75.58% of Freshworks' stock, with several firms adjusting their ratings and price targets, reflecting strong market interest.

Trexquant Investment LP raised its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 59.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,462,089 shares of the company's stock after purchasing an additional 546,202 shares during the quarter. Trexquant Investment LP owned about 0.50% of Freshworks worth $20,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Xponance Inc. increased its stake in shares of Freshworks by 5.1% in the first quarter. Xponance Inc. now owns 15,605 shares of the company's stock valued at $220,000 after purchasing an additional 758 shares during the period. Legato Capital Management LLC boosted its holdings in shares of Freshworks by 4.0% in the first quarter. Legato Capital Management LLC now owns 33,080 shares of the company's stock valued at $467,000 after acquiring an additional 1,260 shares in the last quarter. BluePointe Capital Management LLC boosted its holdings in shares of Freshworks by 12.5% in the first quarter. BluePointe Capital Management LLC now owns 12,495 shares of the company's stock valued at $176,000 after acquiring an additional 1,393 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Freshworks by 3.3% in the first quarter. Arizona State Retirement System now owns 53,432 shares of the company's stock valued at $754,000 after acquiring an additional 1,728 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Freshworks by 47.8% in the fourth quarter. Quarry LP now owns 5,410 shares of the company's stock valued at $87,000 after acquiring an additional 1,750 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.

Insider Transactions at Freshworks

In related news, Director Johanna Flower sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total value of $118,400.00. Following the completion of the transaction, the director owned 48,094 shares of the company's stock, valued at approximately $711,791.20. This trade represents a 14.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 7,558 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $15.13, for a total transaction of $114,352.54. Following the completion of the transaction, the director directly owned 44,218 shares of the company's stock, valued at $669,018.34. This represents a 14.60% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 196,137 shares of company stock worth $3,035,364. 11.17% of the stock is currently owned by insiders.

Freshworks Stock Down 0.4%

NASDAQ:FRSH traded down $0.06 during trading hours on Monday, reaching $13.47. 2,205,288 shares of the company's stock were exchanged, compared to its average volume of 4,648,555. The company has a market capitalization of $3.93 billion, a P/E ratio of -74.83 and a beta of 0.94. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The business's 50-day simple moving average is $13.95 and its two-hundred day simple moving average is $14.57.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share 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 during the quarter, compared to analysts' expectations of $198.85 million. During the same period last year, the firm posted $0.08 earnings per share. The firm'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, sell-side analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.