PDT Partners LLC Increases Stock Holdings in Freshworks Inc. $FRSH

Key Points

• PDT Partners LLC significantly increased its stake in Freshworks Inc. by 554%, acquiring a total of 229,060 shares valued at approximately $3.23 million.
• Various hedge funds have boosted their holdings in Freshworks, with Principal Financial Group increasing its position by an astounding 2,786.7%.
• Freshworks reported a 19.6% year-over-year revenue increase in its latest earnings, beating analysts' estimates with a revenue of $204.68 million for the quarter.

PDT Partners LLC boosted its position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 554.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 229,060 shares of the company's stock after buying an additional 194,034 shares during the period. PDT Partners LLC owned approximately 0.08% of Freshworks worth $3,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FRSH. Envestnet Asset Management Inc. boosted its stake in Freshworks by 9.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 22,439 shares of the company's stock valued at $363,000 after buying an additional 2,019 shares during the last quarter. Mariner LLC lifted its stake in shares of Freshworks by 51.2% in the 4th quarter. Mariner LLC now owns 15,153 shares of the company's stock valued at $245,000 after purchasing an additional 5,131 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Freshworks in the 4th quarter valued at approximately $2,045,000. Tower Research Capital LLC TRC lifted its stake in shares of Freshworks by 664.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,108 shares of the company's stock valued at $180,000 after purchasing an additional 9,654 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Freshworks in the 4th quarter valued at approximately $337,000. 75.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FRSH has been the subject of several analyst reports. Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 price objective for the company in a research note on Tuesday, June 3rd. Piper Sandler raised their price target on Freshworks from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen lowered Freshworks from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 23rd. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.29.

Freshworks Stock Performance

NASDAQ FRSH traded down $0.17 on Friday, reaching $12.84. 4,705,218 shares of the stock traded hands, compared to its average volume of 3,978,615. The company has a fifty day moving average price of $13.79 and a 200-day moving average price of $14.47. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -71.33 and a beta of 0.94. 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 issued 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 during 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 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. As a group, research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshworks

In other news, insider Mika Yamamoto sold 4,289 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $13.18, for a total value of $56,529.02. Following the completion of the transaction, the insider directly owned 533,993 shares of the company's stock, valued at approximately $7,038,027.74. The trade was a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jennifer H. Taylor sold 4,690 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $12.53, for a total value of $58,765.70. Following the completion of the transaction, the director directly owned 44,218 shares of the company's stock, valued at approximately $554,051.54. The trade was a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,654 shares of company stock worth $3,195,828 over the last quarter. Insiders own 11.17% of the company's stock.

About Freshworks

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.