Renaissance Technologies LLC Has $36.74 Million Position in Freshworks Inc. $FRSH

Key Points

• Renaissance Technologies increased its Freshworks stake by 79.1% in the first quarter, owning 4.576 million shares valued at approximately $36.7 million. Institutional investors collectively hold 75.58% of the company.
• Freshworks reported first-quarter adjusted earnings of $0.11 per share, in line with estimates, while revenue of $228.63 million exceeded expectations and rose 16.5% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $13.25 price target. Shares opened at $10.82, while two directors recently sold stock under pre-arranged trading plans.

Renaissance Technologies LLC boosted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 79.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,576,000 shares of the company's stock after acquiring an additional 2,021,412 shares during the quarter. Renaissance Technologies LLC owned approximately 1.66% of Freshworks worth $36,745,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Freshworks by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 27,240,469 shares of the company's stock worth $333,696,000 after purchasing an additional 922,549 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Freshworks by 9.2% in the 4th quarter. Wellington Management Group LLP now owns 5,359,784 shares of the company's stock valued at $65,657,000 after purchasing an additional 453,627 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Freshworks by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,126,112 shares of the company's stock valued at $62,805,000 after purchasing an additional 95,720 shares during the last quarter. State Street Corp boosted its holdings in Freshworks by 1.2% in the fourth quarter. State Street Corp now owns 4,904,684 shares of the company's stock worth $60,082,000 after purchasing an additional 56,935 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Freshworks by 11.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,748,985 shares of the company's stock worth $58,175,000 after purchasing an additional 478,473 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Barry L. Padgett sold 6,618 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $10.49, for a total value of $69,422.82. Following the completion of the sale, the director owned 47,270 shares in the company, valued at approximately $495,862.30. This trade represents a 12.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer H. Taylor sold 6,618 shares of Freshworks stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $10.44, for a total value of $69,091.92. Following the sale, the director directly owned 62,673 shares in the company, valued at approximately $654,306.12. This trade represents a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 27,236 shares of company stock valued at $270,331. Insiders own 8.54% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings lowered Freshworks from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, May 7th. Citigroup reiterated a "market outperform" rating on shares of Freshworks in a research note on Tuesday, June 2nd. Zacks Research lowered Freshworks from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. Morgan Stanley cut their price objective on Freshworks from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Monday, May 11th. Finally, Guggenheim initiated coverage on Freshworks in a report on Wednesday, July 22nd. They issued a "buy" rating and a $25.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Freshworks presently has a consensus rating of "Hold" and a consensus target price of $13.25.

Freshworks Trading Up 5.4%

Shares of FRSH stock opened at $10.82 on Tuesday. The firm has a market capitalization of $2.99 billion, a P/E ratio of 17.45 and a beta of 0.88. Freshworks Inc. has a 1 year low of $6.79 and a 1 year high of $14.36. The firm's fifty day simple moving average is $9.80 and its 200 day simple moving average is $9.19.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The firm had revenue of $228.63 million during the quarter, compared to the consensus estimate of $223.63 million. Freshworks had a net margin of 20.69% and a return on equity of 4.27%. The business's revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. Freshworks has set its FY 2026 guidance at 0.610-0.630 EPS and its Q2 2026 guidance at 0.130-0.130 EPS. Equities research analysts anticipate that Freshworks Inc. will post -0.02 EPS for the current fiscal year.

Freshworks Profile

Freshworks, Inc is a global provider of cloud-based customer engagement software designed to help businesses streamline customer support, sales, marketing, and IT service operations. The company's integrated suite of solutions enables organizations of all sizes to deliver seamless experiences across multiple channels, including email, chat, phone, and social media. Freshworks' platform is built on modern, user-friendly interfaces and offers native automation, AI-powered insights, and analytics to improve efficiency and customer satisfaction.

The company's flagship product, Freshdesk, serves as a helpdesk solution for customer support teams, while Freshservice addresses IT service management needs.

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