Oak Harvest Investment Services bought a new position in Freshworks Inc. (NASDAQ:FRSH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 75,000 shares of the company's stock, valued at approximately $1,058,000.
Several other hedge funds and other institutional investors have also made changes to their positions in FRSH. Eminence Capital LP bought a new position in shares of Freshworks during the 4th quarter valued at about $86,002,000. Wellington Management Group LLP bought a new position in shares of Freshworks during the 1st quarter valued at about $48,813,000. Nuveen LLC bought a new position in shares of Freshworks during the 1st quarter valued at about $35,129,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of Freshworks by 625.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,631,949 shares of the company's stock valued at $26,389,000 after purchasing an additional 1,407,033 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Freshworks by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 26,189,892 shares of the company's stock valued at $369,539,000 after purchasing an additional 1,126,013 shares during the last quarter. Institutional investors own 75.58% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on FRSH shares. Cantor Fitzgerald raised shares of Freshworks to an "overweight" rating and set a $20.00 price objective for the company in a report on Tuesday, June 3rd. UBS Group reduced their price objective on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Piper Sandler upped their target price on shares of Freshworks from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. JMP Securities restated a "market outperform" rating and set a $27.00 target price on shares of Freshworks in a report on Wednesday, April 30th. Finally, Wells Fargo & Company raised their target price on shares of Freshworks from $11.00 to $12.00 and gave the company an "underweight" rating in a research note on Wednesday, April 30th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.29.
Get Our Latest Report on Freshworks
Insider Buying and Selling at Freshworks
In other news, Director Barry L. Padgett sold 7,558 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $15.14, for a total transaction of $114,428.12. Following the completion of the sale, the director owned 32,635 shares of the company's stock, valued at $494,093.90. The trade was a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Zachary Nelson sold 8,432 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $13.01, for a total transaction of $109,700.32. Following the sale, the director directly owned 38,870 shares of the company's stock, valued at $505,698.70. This represents a 17.83% 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 valued at $3,101,115. Corporate insiders own 11.17% of the company's stock.
Freshworks Trading Down 2.9%
FRSH traded down $0.39 on Tuesday, reaching $13.18. The stock had a trading volume of 3,250,837 shares, compared to its average volume of 6,020,601. The company has a market cap of $3.84 billion, a P/E ratio of -73.22 and a beta of 0.94. The business's 50-day moving average price is $14.03 and its two-hundred day moving average price is $14.68. 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 earnings results on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. The business had revenue of $204.68 million during 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 company's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $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, analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current year.
Freshworks Company Profile
(
Free Report)
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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