Intech Investment Management LLC Raises Stake in Freshworks Inc. $FRSH

Key Points

• Intech Investment Management LLC raised its stake in Freshworks Inc. by 40.9%, now owning 154,170 shares valued at approximately $2.175 million.
• Several institutional investors have entered or increased their positions in Freshworks during the first quarter, with Wellington Management Group LLC investing about $48.81 million.
• Analysts have mixed views on Freshworks, with Cantor Fitzgerald setting a price target of $20.00 and JMP Securities maintaining an "overweight" rating with a potential target of $27.00.

Intech Investment Management LLC increased its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 40.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 154,170 shares of the company's stock after purchasing an additional 44,761 shares during the period. Intech Investment Management LLC owned 0.05% of Freshworks worth $2,175,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FRSH. Wellington Management Group LLP purchased a new stake in Freshworks during the 1st quarter worth about $48,813,000. Nuveen LLC purchased a new stake in shares of Freshworks in the 1st quarter valued at about $35,129,000. Driehaus Capital Management LLC purchased a new stake in shares of Freshworks in the 1st quarter valued at about $34,231,000. Vanguard Group Inc. raised its holdings in shares of Freshworks by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 26,189,892 shares of the company's stock valued at $369,539,000 after acquiring an additional 1,126,013 shares in the last quarter. Finally, TPG GP A LLC raised its holdings in shares of Freshworks by 28.7% in the 4th quarter. TPG GP A LLC now owns 4,346,855 shares of the company's stock valued at $70,289,000 after acquiring an additional 969,283 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FRSH. Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 price target on the stock in a report on Tuesday, June 3rd. Wall Street Zen cut Freshworks from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 23rd. Robert W. Baird lowered their price target on Freshworks from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday. Piper Sandler raised their price target on Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $27.00 price target on shares of Freshworks in a report on Friday. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.00.

Freshworks Stock Performance

Shares of FRSH stock opened at $12.56 on Tuesday. The firm has a market cap of $3.66 billion, a P/E ratio of -69.77 and a beta of 0.94. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The business's 50 day moving average price is $13.53 and its 200-day moving average price is $14.24.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. The firm had revenue of $204.68 million for the quarter, compared to analyst estimates of $198.85 million. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The business's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period last year, the company earned $0.08 EPS. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. As a group, equities analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

Insider Transactions at Freshworks

In other news, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $12.96, for a total value of $60,717.60. Following the sale, the director directly owned 44,218 shares in the company, valued at approximately $573,065.28. This trade represents a 9.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Johanna Flower sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total value of $118,400.00. Following the completion of the transaction, the director owned 48,094 shares of the company's stock, valued at approximately $711,791.20. The trade was a 14.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,181 shares of company stock worth $1,107,538. Corporate insiders own 11.17% of the company's stock.

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.

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