Jump Financial LLC Has $808,000 Holdings in Freshworks Inc. $FRSH

Key Points

• Jump Financial LLC reduced its stake in Freshworks Inc. by 33.1%, holding 57,275 shares valued at $808,000 after selling 28,325 shares in the first quarter.
• Freshworks reported an earnings per share (EPS) of $0.18 for the most recent quarter, surpassing expectations and showing a 19.6% increase in revenue year-over-year.
• Institutional investors own 75.58% of Freshworks' stock, with Vanguard Group Inc. expanding its position by 4.5% during the first quarter.

Jump Financial LLC lessened its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 33.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,275 shares of the company's stock after selling 28,325 shares during the period. Jump Financial LLC's holdings in Freshworks were worth $808,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FRSH. Jasper Ridge Partners L.P. boosted its holdings in shares of Freshworks by 14.3% during the 1st quarter. Jasper Ridge Partners L.P. now owns 48,849 shares of the company's stock worth $689,000 after buying an additional 6,130 shares during the period. Martingale Asset Management L P bought a new stake in Freshworks during the first quarter valued at about $378,000. Capital Fund Management S.A. boosted its holdings in Freshworks by 1.6% during the first quarter. Capital Fund Management S.A. now owns 263,720 shares of the company's stock valued at $3,721,000 after acquiring an additional 4,131 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in shares of Freshworks by 27.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,951,115 shares of the company's stock valued at $55,750,000 after purchasing an additional 862,315 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Freshworks in the first quarter worth about $48,813,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Rathnagirish Mathrubootham sold 70,997 shares of the firm'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 owned 724,515 shares in the company, valued at $11,599,485.15. This trade represents a 8.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total value of $124,808.40. Following the completion of the sale, 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. Insiders sold a total of 208,654 shares of company stock worth $3,195,828 in the last 90 days. 11.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Freshworks Price Performance

Shares of FRSH traded down $0.18 on Thursday, reaching $12.92. 1,335,083 shares of the stock traded hands, compared to its average volume of 3,728,715. The stock's 50-day moving average price is $13.87 and its 200-day moving average price is $14.53. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -71.75 and a beta of 0.94.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results 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. The business had revenue of $204.68 million for the quarter, compared to analysts' expectations of $198.85 million. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. 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 research analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

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.