Freshworks Inc. $FRSH Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Freshworks stake by 56.2% in the third quarter, selling 142,458 shares and retaining 110,994 shares valued at approximately $1.42 million. Institutional investors and hedge funds collectively own 75.58% of FRSH.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $14.46. Ratings include one Strong Buy, seven Buys, and eight Holds.
• Freshworks shares opened at $15.32, near their 52-week high of $15.44, while the company’s latest quarterly results exceeded expectations: EPS was $0.17 versus $0.13 expected, and revenue rose 16% year over year to $237.38 million.

Assenagon Asset Management S.A. decreased its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 56.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 110,994 shares of the company's stock after selling 142,458 shares during the period. Assenagon Asset Management S.A.'s holdings in Freshworks were worth $1,420,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Tidal Investments LLC bought a new stake in shares of Freshworks in the 2nd quarter valued at about $374,000. Integrated Wealth Concepts LLC boosted its stake in Freshworks by 116.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 44,010 shares of the company's stock worth $445,000 after acquiring an additional 23,632 shares during the last quarter. NewEdge Advisors LLC bought a new position in Freshworks during the 2nd quarter worth approximately $110,000. IFP Advisors Inc grew its holdings in Freshworks by 51.6% during the second quarter. IFP Advisors Inc now owns 8,120 shares of the company's stock valued at $82,000 after purchasing an additional 2,765 shares during the period. Finally, Allworth Financial LP grew its holdings in Freshworks by 149.9% during the second quarter. Allworth Financial LP now owns 20,936 shares of the company's stock valued at $212,000 after purchasing an additional 12,559 shares during the period. Institutional investors and hedge funds own 75.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FRSH shares. Guggenheim initiated coverage on shares of Freshworks in a report on Wednesday, July 22nd. They issued a "buy" rating and a $25.00 target price on the stock. Robert W. Baird set a $13.00 price target on shares of Freshworks in a report on Wednesday, August 5th. Cantor Fitzgerald reissued an "overweight" rating on shares of Freshworks in a report on Tuesday, October 13th. KeyCorp began coverage on shares of Freshworks in a research report on Monday, September 14th. They issued an "overweight" rating and a $18.00 price objective for the company. Finally, Weiss Ratings raised Freshworks from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Freshworks presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.46.

Freshworks Stock Performance

Shares of FRSH opened at $15.32 on Friday. The stock has a 50 day simple moving average of $13.14 and a 200 day simple moving average of $10.88. Freshworks Inc. has a 52-week low of $6.79 and a 52-week high of $15.44. The firm has a market capitalization of $4.00 billion, a PE ratio of 82.36, a P/E/G ratio of 9.88 and a beta of 0.90.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. Freshworks had a return on equity of 5.52% and a net margin of 20.49%. The business had revenue of $237.38 million during the quarter, compared to analysts' expectations of $233.62 million. During the same period in the prior year, the business earned $0.18 EPS. Freshworks's revenue for the quarter was up 16.0% compared to the same quarter last year. Freshworks has set its FY 2026 guidance at 0.660-0.680 EPS and its Q3 2026 guidance at 0.180-0.180 EPS. Equities research analysts predict that Freshworks Inc. will post 0.05 EPS for the current fiscal year.

Insider Activity

In other news, CAO Philippa Lawrence sold 3,492 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $12.98, for a total transaction of $45,326.16. Following the completion of the sale, the chief accounting officer owned 379,639 shares of the company's stock, valued at $4,927,714.22. This represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 8.54% of the stock is owned by corporate insiders.

About Freshworks

Freshworks Inc NASDAQ: FRSH develops cloud-based customer and employee engagement software for businesses of various sizes. Its products are designed to help organizations manage customer support, IT service operations, sales activities, and marketing workflows through user-friendly, artificial intelligence-enabled applications.

The company's product portfolio includes Freshdesk for customer service and support, Freshservice for IT and enterprise service management, Freshsales for customer relationship management, and Freshmarketer for marketing automation and customer engagement.

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