Fuller & Thaler Asset Management Inc. Acquires 862,315 Shares of Freshworks Inc. $FRSH

Key Points

• Fuller & Thaler Asset Management Inc. has increased its stake in Freshworks Inc. by 27.9%, acquiring an additional 862,315 shares in the first quarter, bringing their total to approximately $55.75 million.
• Freshworks reported a quarterly earnings of $0.18 EPS, exceeding the consensus estimate of $0.12, along with a 19.6% increase in revenue year-over-year.
• Insider selling has occurred recently, including the sale of 70,997 shares by Chairman Rathnagirish Mathrubootham, indicating potential shifts in insider confidence.

Fuller & Thaler Asset Management Inc. raised its position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 27.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,951,115 shares of the company's stock after purchasing an additional 862,315 shares during the quarter. Fuller & Thaler Asset Management Inc. owned 1.34% of Freshworks worth $55,750,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in shares of Freshworks during the first quarter valued at approximately $48,813,000. Versor Investments LP raised its stake in shares of Freshworks by 53.2% in the first quarter. Versor Investments LP now owns 52,700 shares of the company's stock worth $744,000 after purchasing an additional 18,300 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Freshworks during the first quarter valued at $664,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Freshworks during the first quarter valued at $155,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Freshworks by 399.8% during the first quarter. Russell Investments Group Ltd. now owns 68,143 shares of the company's stock valued at $962,000 after buying an additional 54,508 shares during the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Freshworks Stock Performance

Shares of Freshworks stock traded up $0.09 on Thursday, hitting $13.20. 3,384,599 shares of the company's stock were exchanged, compared to its average volume of 6,117,711. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The company has a 50-day simple moving average of $14.13 and a 200-day simple moving average of $14.81. The stock has a market capitalization of $3.85 billion, a PE ratio of -73.33 and a beta of 0.94.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $198.85 million. During the same period last year, the firm earned $0.08 EPS. Freshworks'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, analysts expect that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JMP Securities reissued a "market outperform" rating and issued a $27.00 target price on shares of Freshworks in a research report on Wednesday, April 30th. Wells Fargo & Company lifted their price target on shares of Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. 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 research report on Wednesday, July 30th. Scotiabank raised their target price on shares of Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Freshworks from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.29.

Insider Activity

In related news, Chairman Rathnagirish Mathrubootham sold 70,997 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $16.01, for a total transaction of $1,136,661.97. Following the completion of the transaction, the chairman directly owned 724,515 shares in the company, valued at approximately $11,599,485.15. The trade was a 8.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jennifer H. Taylor sold 7,558 shares of the stock in a transaction 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 sale, the director directly owned 44,218 shares of the company's stock, valued at approximately $669,018.34. This trade represents a 14.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,491 shares of company stock worth $3,101,115. 11.17% of the stock is currently owned by corporate insiders.

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.