Resolute Capital Asset Partners LLC Sells 115,087 Shares of 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 lowered its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 62.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,000 shares of the company's stock after selling 115,087 shares during the quarter. Resolute Capital Asset Partners LLC's holdings in Freshworks were worth $988,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in shares of Freshworks during the 1st quarter worth about $70,000. DekaBank Deutsche Girozentrale increased 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 purchasing an additional 2,814 shares during the period. Quarry LP increased 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 purchasing an additional 1,750 shares during the period. Liberty Mutual Group Asset Management Inc. bought a new position in shares of Freshworks during the 1st quarter worth about $106,000. Finally, US Bancorp DE increased 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 purchasing an additional 7,251 shares during the period. Institutional investors own 75.58% of the company's stock.

Insider Transactions at Freshworks

In other Freshworks 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 value of $114,428.12. Following the transaction, the director directly owned 32,635 shares in the company, valued at $494,093.90. The trade was a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Rathnagirish Mathrubootham sold 70,997 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $16.01, for a total transaction of $1,136,661.97. Following the completion of the transaction, the chairman owned 724,515 shares in the company, valued at approximately $11,599,485.15. This trade represents a 8.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,491 shares of company stock valued at $3,101,115. 11.17% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on FRSH shares. Wells Fargo & Company boosted their price objective on shares of Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a report on Wednesday, April 30th. UBS Group decreased their target price 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. Cantor Fitzgerald upgraded shares of Freshworks to an "overweight" rating and set a $20.00 target price on the stock in a research report on Tuesday, June 3rd. Scotiabank lifted their target price on shares of Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley lifted their target price on shares of Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $20.29.

Freshworks Stock Up 0.2%

NASDAQ:FRSH traded up $0.03 on Thursday, reaching $13.64. The stock had a trading volume of 1,151,816 shares, compared to its average volume of 3,746,737. The company has a market capitalization of $3.97 billion, a P/E ratio of -75.75 and a beta of 0.94. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77. The stock has a fifty day moving average price of $14.01 and a 200-day moving average price of $14.68.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The firm 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 company's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business 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. Sell-side analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

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.