Freshworks Inc. $FRSH Shares Bought by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its holdings in Freshworks Inc. by 18.1% after acquiring an additional 49,873 shares, bringing its total ownership to 325,704 shares worth approximately $4.6 million.
• Freshworks recently reported a 19.6% year-over-year revenue increase to $204.68 million, surpassing analyst expectations, and announced earnings guidance for FY 2025 between $0.560 and $0.580 per share.
• Several analysts issued ratings on Freshworks, with an average consensus rating of "Moderate Buy" and a target price of $20.14, indicating optimism about the company's future performance.

Rhumbline Advisers raised its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 18.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 325,704 shares of the company's stock after acquiring an additional 49,873 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of Freshworks worth $4,596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FRSH. Ameriprise Financial Inc. boosted its position in Freshworks by 34.9% during the 4th quarter. Ameriprise Financial Inc. now owns 369,370 shares of the company's stock valued at $5,973,000 after acquiring an additional 95,463 shares in the last quarter. Cetera Investment Advisers bought a new stake in Freshworks during the 4th quarter valued at $190,000. Deutsche Bank AG boosted its position in Freshworks by 15.8% during the 4th quarter. Deutsche Bank AG now owns 513,810 shares of the company's stock valued at $8,308,000 after acquiring an additional 70,001 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Freshworks during the 4th quarter valued at $167,000. Finally, Janus Henderson Group PLC boosted its position in shares of Freshworks by 10.0% in the 4th quarter. Janus Henderson Group PLC now owns 80,501 shares of the company's stock worth $1,302,000 after purchasing an additional 7,300 shares in the last quarter. Institutional investors own 75.58% of the company's stock.

Freshworks Stock Performance

Shares of Freshworks stock traded up $0.45 on Thursday, hitting $13.17. The company's stock had a trading volume of 5,105,485 shares, compared to its average volume of 3,674,877. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The firm has a fifty day moving average price of $13.39 and a 200-day moving average price of $14.20. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of -73.16 and a beta of 0.94.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. Freshworks had a negative return on equity of 2.56% and a negative net margin of 7.02%.The firm had revenue of $204.68 million during the quarter, compared to analyst estimates of $198.85 million. During the same quarter in the previous year, the business earned $0.08 EPS. Freshworks's revenue for the quarter was up 19.6% compared to the same quarter last year. 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 forecast that Freshworks Inc. will post -0.19 EPS for the current year.

Insiders Place Their Bets

In other Freshworks news, insider Mika Yamamoto sold 4,289 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $13.18, for a total transaction of $56,529.02. Following the transaction, the insider directly owned 533,993 shares in the company, valued at $7,038,027.74. This represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $12.96, for a total value of $60,717.60. Following the transaction, the director owned 44,218 shares in the company, valued at $573,065.28. This trade represents a 9.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,771 shares of company stock valued at $1,139,991. Insiders own 11.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FRSH shares. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price target on shares of Freshworks in a research report on Friday, September 12th. Piper Sandler boosted their price objective on Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 price objective for the company in a report on Tuesday, June 3rd. Robert W. Baird decreased their price objective on Freshworks from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Monday. Finally, Morgan Stanley decreased their price objective on Freshworks from $18.00 to $16.00 and set an "equal weight" rating for the company in a report on Friday, September 12th. Eight investment 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 data from MarketBeat, Freshworks currently has a consensus rating of "Moderate Buy" and an average price target of $20.00.

Freshworks Company 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.