Freshworks Inc. $FRSH Shares Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC has increased its stake in Freshworks Inc. by 15.3%, acquiring an additional 223,553 shares to bring its total holdings to approximately 1.68 million shares, valued at $23.79 million.
• Director Jennifer H. Taylor sold 7,558 shares of Freshworks stock for approximately $114,352, reducing her position by 14.60%.
• Freshworks reported a 19.6% year-over-year increase in revenue during its latest quarter, totaling $204.68 million, and surpassed earnings expectations with an EPS of $0.18.

Ieq Capital LLC grew its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 15.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,686,094 shares of the company's stock after purchasing an additional 223,553 shares during the period. Ieq Capital LLC owned approximately 0.57% of Freshworks worth $23,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in FRSH. FNY Investment Advisers LLC purchased a new stake in shares of Freshworks in the first quarter valued at approximately $70,000. DekaBank Deutsche Girozentrale grew its position in shares of Freshworks by 91.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock valued at $84,000 after purchasing an additional 2,814 shares in the last quarter. Quarry LP grew its position 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 purchasing an additional 1,750 shares in the last quarter. Liberty Mutual Group Asset Management Inc. purchased a new stake in shares of Freshworks in the first quarter valued at approximately $106,000. Finally, US Bancorp DE grew its position in shares of Freshworks by 671.4% in the first quarter. US Bancorp DE now owns 8,331 shares of the company's stock valued at $118,000 after purchasing an additional 7,251 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Freshworks Stock Performance

Shares of FRSH stock traded down $0.06 during mid-day trading on Friday, hitting $13.47. 2,205,288 shares of the stock were exchanged, compared to its average volume of 4,925,168. The stock's fifty day simple moving average is $13.95 and its two-hundred day simple moving average is $14.59. The stock has a market capitalization of $3.93 billion, a price-to-earnings 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.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share (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 firm had revenue of $204.68 million for the quarter, compared to analyst estimates of $198.85 million. During the same quarter last year, the company posted $0.08 earnings per share. The business'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, research analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Barry L. Padgett sold 7,558 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $15.14, for a total transaction of $114,428.12. Following the transaction, the director owned 32,635 shares of the company's stock, valued at $494,093.90. This trade represents a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Zachary Nelson sold 8,433 shares of the firm's stock in a transaction dated 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 directly owned 38,870 shares in the company, valued at approximately $575,276. This represents a 17.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,711 shares of company stock valued at $3,089,439. Insiders own 11.17% of the company's stock.

About Freshworks

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.