Rhumbline Advisers Acquires 49,873 Shares of Freshworks Inc. $FRSH

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 holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 325,704 shares of the company's stock after purchasing an additional 49,873 shares during the quarter. Rhumbline Advisers owned 0.11% of Freshworks worth $4,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Xponance Inc. raised its holdings in shares of Freshworks by 5.1% in the first quarter. Xponance Inc. now owns 15,605 shares of the company's stock valued at $220,000 after acquiring an additional 758 shares in the last quarter. Amundi raised its holdings in shares of Freshworks by 1.3% in the first quarter. Amundi now owns 80,074 shares of the company's stock valued at $1,049,000 after acquiring an additional 1,040 shares in the last quarter. Legato Capital Management LLC raised its holdings in shares of Freshworks by 4.0% in the first quarter. Legato Capital Management LLC now owns 33,080 shares of the company's stock valued at $467,000 after acquiring an additional 1,260 shares in the last quarter. BluePointe Capital Management LLC raised its holdings in shares of Freshworks by 12.5% in the first quarter. BluePointe Capital Management LLC now owns 12,495 shares of the company's stock valued at $176,000 after acquiring an additional 1,393 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Freshworks by 3.3% in the first quarter. Arizona State Retirement System now owns 53,432 shares of the company's stock valued at $754,000 after acquiring an additional 1,728 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JMP Securities restated a "market outperform" rating and issued a $27.00 price objective on shares of Freshworks in a report on Friday. Wall Street Zen downgraded Freshworks from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 target price on shares of Freshworks in a report on Friday. Cantor Fitzgerald upgraded shares of Freshworks to an "overweight" rating and set a $20.00 target price for the company in a report on Tuesday, June 3rd. Finally, Piper Sandler boosted their target price on shares of Freshworks from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.14.

Insider Buying and Selling at Freshworks

In other news, Director Jennifer H. Taylor sold 4,685 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $12.96, for a total transaction of $60,717.60. Following the sale, the director owned 44,218 shares in the company, valued at approximately $573,065.28. The trade was a 9.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry L. Padgett sold 7,558 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $15.14, for a total value of $114,428.12. Following the sale, the director owned 32,635 shares in the company, valued at $494,093.90. The trade was a 18.80% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,181 shares of company stock valued at $1,107,538. Insiders own 11.17% of the company's stock.

Freshworks Stock Performance

Shares of FRSH stock opened at $12.45 on Friday. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -69.16 and a beta of 0.94. The stock's 50-day simple moving average is $13.57 and its 200-day simple moving average is $14.29.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $204.68 million for the quarter, compared to analyst estimates of $198.85 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The company's revenue was up 19.6% on a year-over-year basis. 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, equities analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current year.

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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