Martingale Asset Management L P Makes New Investment in Freshworks Inc. $FRSH

Key Points

• Martingale Asset Management L P has acquired 26,795 shares of Freshworks Inc. for approximately $378,000, reflecting growing interest in the company among institutional investors.
• Several hedge funds, including Principal Financial Group Inc., have significantly increased their stakes in Freshworks, highlighting a trend of bullish sentiment towards the company's stock.
• Analysts have given Freshworks a consensus rating of "Moderate Buy" with an average price target of $20.29, indicating expected positive performance in the stock market.

Martingale Asset Management L P purchased a new position in Freshworks Inc. (NASDAQ:FRSH - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,795 shares of the company's stock, valued at approximately $378,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in Freshworks by 2,786.7% in the 1st quarter. Principal Financial Group Inc. now owns 512,875 shares of the company's stock worth $7,237,000 after buying an additional 495,108 shares during the last quarter. Deutsche Bank AG boosted its stake in Freshworks by 15.8% in the 4th quarter. Deutsche Bank AG now owns 513,810 shares of the company's stock worth $8,308,000 after buying an additional 70,001 shares during the last quarter. Pier 88 Investment Partners LLC acquired a new stake in Freshworks in the 1st quarter worth about $675,000. WCM Investment Management LLC acquired a new stake in Freshworks in the 1st quarter worth about $13,426,000. Finally, New York State Common Retirement Fund boosted its stake in Freshworks by 75.8% in the 1st quarter. New York State Common Retirement Fund now owns 489,511 shares of the company's stock worth $6,907,000 after buying an additional 211,102 shares during the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley raised their price target on Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Wall Street Zen lowered Freshworks from a "strong-buy" rating to a "buy" rating in a research note on Saturday. UBS Group reduced their price objective on Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $27.00 price objective on shares of Freshworks in a research note on Wednesday, April 30th. Finally, Scotiabank lifted their price objective on Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Freshworks currently has a consensus rating of "Moderate Buy" and an average price target of $20.29.

Freshworks Stock Performance

Freshworks stock opened at $13.57 on Tuesday. The stock's 50 day moving average price is $14.08 and its 200 day moving average price is $14.69. The firm has a market capitalization of $3.95 billion, a PE ratio of -75.38 and a beta of 0.94. Freshworks Inc. has a one year low of $10.81 and a one year 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 EPS for the quarter, topping the consensus estimate 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%.Freshworks's revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the company posted $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. On average, analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jennifer H. Taylor sold 7,558 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 44,218 shares of the company's stock, valued at approximately $669,018.34. The trade was a 14.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Johanna Flower sold 8,000 shares of the business'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 transaction, the director directly owned 48,094 shares in the company, valued at $711,791.20. This trade represents a 14.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,491 shares of company stock worth $3,101,115 in the last ninety days. 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.

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