Resolute Capital Asset Partners LLC Cuts Stake in Freshworks Inc. $FRSH

Key Points

• Resolute Capital Asset Partners LLC significantly reduced its stake in Freshworks Inc. by 62.2%, selling 115,087 shares and retaining ownership of 70,000 shares valued at approximately $988,000.
• In the 1st quarter, several large investors modified their holdings in Freshworks Inc., with 75.58% of the stock now owned by hedge funds and institutional investors.
• Freshworks reported earnings of $0.18 per share for the last quarter, exceeding analysts’ expectations and showing a 19.6% revenue increase year-over-year.

Resolute Capital Asset Partners LLC reduced its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 62.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,000 shares of the company's stock after selling 115,087 shares during the period. Resolute Capital Asset Partners LLC's holdings in Freshworks were worth $988,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Freshworks during the 1st quarter worth about $70,000. Quarry LP lifted its holdings in shares of Freshworks by 47.8% during the 4th quarter. Quarry LP now owns 5,410 shares of the company's stock worth $87,000 after acquiring an additional 1,750 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Freshworks by 91.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock worth $84,000 after acquiring an additional 2,814 shares during the period. Liberty Mutual Group Asset Management Inc. purchased a new position in shares of Freshworks during the 1st quarter worth about $106,000. Finally, US Bancorp DE lifted its holdings in shares of Freshworks by 671.4% during the 1st quarter. US Bancorp DE now owns 8,331 shares of the company's stock worth $118,000 after acquiring an additional 7,251 shares during the period. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Freshworks

In other news, Director Johanna Flower sold 8,000 shares of Freshworks stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total transaction of $118,400.00. Following the sale, the director 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Zachary Nelson sold 8,432 shares of Freshworks stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $13.01, for a total transaction of $109,700.32. Following the sale, the director owned 38,870 shares in the company, 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 three months, insiders have sold 200,491 shares of company stock valued at $3,101,115. 11.17% of the stock is currently owned by corporate insiders.

Freshworks Stock Up 5.8%

FRSH opened at $13.97 on Friday. The firm has a market capitalization of $4.07 billion, a P/E ratio of -77.61 and a beta of 0.94. The firm's 50 day moving average is $14.11 and its 200-day moving average is $14.78. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted 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. The company had revenue of $204.68 million for the quarter, compared to analyst estimates of $198.85 million. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The business's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm posted $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. Equities analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FRSH. JMP Securities reiterated a "market outperform" rating and set a $27.00 price objective on shares of Freshworks in a report on Wednesday, April 30th. UBS Group cut their price target on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Piper Sandler raised their price target on shares of Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Cantor Fitzgerald upgraded shares of Freshworks to an "overweight" rating and set a $20.00 price target on the stock in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company raised their price target on shares of Freshworks from $11.00 to $12.00 and gave the company an "underweight" rating in a report on Wednesday, April 30th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Freshworks has a consensus rating of "Moderate Buy" and an average price target of $20.29.

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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