Freshworks Inc. $FRSH Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC significantly reduced its holdings in Freshworks Inc. by 63.5% during Q1, selling 41,683 shares and now owning 23,989 shares valued at approximately $334,000.
• Several large investors, including DekaBank and US Bancorp DE, increased their stakes in Freshworks, with US Bancorp DE raising its position by 671.4% during the same period.
• Analyst ratings for Freshworks have varied, with Cantor Fitzgerald upgrading the stock to "overweight" and setting a target price of $20.00, while Wall Street Zen downgraded it from "strong-buy" to "buy."

Hsbc Holdings PLC reduced its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 63.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,989 shares of the company's stock after selling 41,683 shares during the quarter. Hsbc Holdings PLC's holdings in Freshworks were worth $334,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in shares of Freshworks during the 1st quarter worth $70,000. DekaBank Deutsche Girozentrale increased its position in Freshworks by 91.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock valued at $84,000 after buying an additional 2,814 shares in the last quarter. Liberty Mutual Group Asset Management Inc. acquired a new position in Freshworks during the 1st quarter valued at about $106,000. US Bancorp DE increased its position in Freshworks by 671.4% during the 1st quarter. US Bancorp DE now owns 8,331 shares of the company's stock valued at $118,000 after buying an additional 7,251 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Freshworks by 2,639.5% during the 1st quarter. GAMMA Investing LLC now owns 9,369 shares of the company's stock valued at $132,000 after buying an additional 9,027 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on FRSH. Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 target price on the stock in a research report on Tuesday, June 3rd. Wall Street Zen lowered shares of Freshworks from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 23rd. Finally, Piper Sandler upped their price target on shares of Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Eight 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. Based on data from MarketBeat, Freshworks has a consensus rating of "Moderate Buy" and a consensus target price of $20.29.

Freshworks Trading Down 1.3%

Shares of FRSH stock traded down $0.17 during mid-day trading on Friday, reaching $12.84. The stock had a trading volume of 4,705,218 shares, compared to its average volume of 3,978,615. The business's fifty day moving average is $13.79 and its 200-day moving average is $14.47. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -71.33 and a beta of 0.94. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, beating 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 business had revenue of $204.68 million for the quarter, compared to analyst estimates of $198.85 million. During the same period in the prior year, the company earned $0.08 earnings per share. The company's revenue was up 19.6% on a year-over-year basis. 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 forecast that Freshworks Inc. will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In other Freshworks news, Director Johanna Flower sold 8,000 shares of the company's 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 $118,400.00. Following the sale, the director owned 48,094 shares in the company, valued at approximately $711,791.20. This represents a 14.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Barry L. Padgett sold 7,558 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $15.14, for a total transaction of $114,428.12. Following the sale, the director directly owned 32,635 shares in the company, valued at $494,093.90. This trade represents a 18.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,654 shares of company stock worth $3,195,828. 11.17% of the stock is currently owned by company insiders.

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.