Topline Capital Management LLC Has $21.45 Million Stock Position in Freshworks Inc. $FRSH

Key Points

• Topline Capital Management LLC reduced its stake in Freshworks Inc. by 9.5%, now owning 1,520,000 shares valued at approximately $21.4 million, making it the 8th largest holding in their portfolio.
• Analysts have mixed ratings for Freshworks, with price targets ranging from $18 to $27, and a consensus rating of "Moderate Buy" with an average price target of $20.29.
• Freshworks reported a revenue of $204.68 million for the last quarter, surpassing estimates and indicating a year-over-year growth of 19.6%, along with an earnings per share of $0.18.

Topline Capital Management LLC lessened its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,520,000 shares of the company's stock after selling 160,000 shares during the quarter. Freshworks makes up about 4.9% of Topline Capital Management LLC's portfolio, making the stock its 8th biggest position. Topline Capital Management LLC owned about 0.52% of Freshworks worth $21,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FRSH. Envestnet Asset Management Inc. raised its position in Freshworks by 9.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 22,439 shares of the company's stock valued at $363,000 after buying an additional 2,019 shares during the last quarter. Mariner LLC raised its position in Freshworks by 51.2% in the 4th quarter. Mariner LLC now owns 15,153 shares of the company's stock valued at $245,000 after buying an additional 5,131 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Freshworks during the 4th quarter worth about $2,045,000. Tower Research Capital LLC TRC grew its holdings in shares of Freshworks by 664.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,108 shares of the company's stock valued at $180,000 after acquiring an additional 9,654 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of Freshworks in the fourth quarter valued at about $337,000. Institutional investors and hedge funds own 75.58% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Freshworks

In other news, Director Jennifer H. Taylor sold 7,558 shares of Freshworks 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 in the company, valued at approximately $669,018.34. The trade was a 14.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $14.80, for a total value of $124,808.40. Following the transaction, the director owned 38,870 shares of the company's stock, valued at $575,276. This represents a 17.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 199,711 shares of company stock worth $3,089,439 in the last three months. 11.17% of the stock is owned by company insiders.

Freshworks Stock Down 0.4%

Shares of NASDAQ FRSH traded down $0.06 during midday trading on Friday, hitting $13.47. 2,205,288 shares of the company's stock were exchanged, compared to its average volume of 4,925,168. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The company's 50 day moving average price is $13.95 and its 200 day moving average price is $14.59. The firm has a market capitalization of $3.93 billion, a PE ratio of -74.83 and a beta of 0.94.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The company had revenue of $204.68 million during the quarter, compared to the consensus estimate of $198.85 million. During the same period in the previous year, the company posted $0.08 EPS. 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. On average, equities research analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

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.