Nuveen LLC Invests $35.13 Million in Freshworks Inc. $FRSH

Key Points

• Nuveen LLC has invested $35.13 million in Freshworks Inc., acquiring approximately 2,489,685 shares of the company, which represents about 0.84% of Freshworks' total shares.
• Several institutional investors have increased their stakes in Freshworks, with 75.58% of the stock now owned by such investors, indicating strong confidence in the company's future.
• Wall Street analysts have a mixed outlook on Freshworks, with the stock receiving an average rating of "Moderate Buy" and an average price target of $20.29.

Nuveen LLC acquired a new position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,489,685 shares of the company's stock, valued at approximately $35,129,000. Nuveen LLC owned about 0.84% of Freshworks as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Freshworks by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 26,189,892 shares of the company's stock worth $369,539,000 after purchasing an additional 1,126,013 shares during the last quarter. Eminence Capital LP purchased a new stake in Freshworks during the 4th quarter worth approximately $86,002,000. TPG GP A LLC increased its holdings in Freshworks by 28.7% during the 4th quarter. TPG GP A LLC now owns 4,346,855 shares of the company's stock worth $70,289,000 after purchasing an additional 969,283 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Freshworks during the 4th quarter worth approximately $49,946,000. Finally, Northern Trust Corp increased its holdings in Freshworks by 10.5% during the 4th quarter. Northern Trust Corp now owns 2,039,458 shares of the company's stock worth $32,978,000 after purchasing an additional 193,322 shares during the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Freshworks

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 completion of the transaction, the director owned 44,218 shares in the company, valued at $669,018.34. The trade was a 14.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Rathnagirish Mathrubootham sold 70,997 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $16.01, for a total value of $1,136,661.97. Following the transaction, the chairman owned 724,515 shares of the company's stock, valued at $11,599,485.15. This represents a 8.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,491 shares of company stock worth $3,101,115. 11.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JMP Securities reiterated a "market outperform" rating and issued a $27.00 price target on shares of Freshworks in a report on Wednesday, April 30th. Cantor Fitzgerald upgraded Freshworks to an "overweight" rating and set a $20.00 price target for the company in a report on Tuesday, June 3rd. Morgan Stanley boosted their price target on Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Piper Sandler boosted 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, Wall Street Zen upgraded Freshworks from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 29th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.29.

Freshworks Price Performance

NASDAQ:FRSH traded up $0.09 during midday trading on Thursday, reaching $13.20. 3,384,599 shares of the company traded hands, compared to its average volume of 6,117,711. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -73.33 and a beta of 0.94. The company has a fifty day moving average price of $14.13 and a 200 day moving average price of $14.81.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $198.85 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The business's revenue for the quarter was up 19.6% compared to the same quarter last year. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. On average, 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.