Russell Investments Group Ltd. Grows Holdings in Freshworks Inc. $FRSH

Key Points

• Russell Investments Group Ltd. increased its stake in Freshworks Inc. by 399.8%, acquiring a total of 68,143 shares now valued at $962,000.
• Freshworks reported quarterly earnings of $0.18 per share, beating expectations, and its revenue rose 19.6% year-over-year to $204.68 million.
• Despite positive earnings, Freshworks stock is currently down 0.4%, with analysts suggesting a consensus target price of $20.29 and a "Moderate Buy" rating.

Russell Investments Group Ltd. grew its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 399.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,143 shares of the company's stock after buying an additional 54,508 shares during the period. Russell Investments Group Ltd.'s holdings in Freshworks were worth $962,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Xponance Inc. lifted its holdings in shares of Freshworks by 5.1% in the 1st quarter. Xponance Inc. now owns 15,605 shares of the company's stock worth $220,000 after acquiring an additional 758 shares during the last quarter. Legato Capital Management LLC lifted its holdings in shares of Freshworks by 4.0% in the 1st quarter. Legato Capital Management LLC now owns 33,080 shares of the company's stock worth $467,000 after acquiring an additional 1,260 shares during the last quarter. BluePointe Capital Management LLC lifted its holdings in shares of Freshworks by 12.5% in the 1st quarter. BluePointe Capital Management LLC now owns 12,495 shares of the company's stock worth $176,000 after acquiring an additional 1,393 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Freshworks by 3.3% in the 1st quarter. Arizona State Retirement System now owns 53,432 shares of the company's stock worth $754,000 after acquiring an additional 1,728 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Freshworks by 9.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 22,439 shares of the company's stock worth $363,000 after acquiring an additional 2,019 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Freshworks to an "overweight" rating and set a $20.00 price objective for the company in a report on Tuesday, June 3rd. Wall Street Zen lowered shares of Freshworks from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 23rd. Finally, Piper Sandler upped 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. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.29.

Freshworks Price Performance

Freshworks stock traded down $0.16 during mid-day trading on Wednesday, reaching $13.01. 1,308,561 shares of the company traded hands, compared to its average volume of 3,733,242. The firm's 50 day moving average price is $13.90 and its 200 day moving average price is $14.54. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of -72.41 and a beta of 0.94. 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 issued 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 business had revenue of $204.68 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. On average, sell-side analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

Insider Buying and Selling at Freshworks

In other news, Director Zachary Nelson sold 8,433 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total value of $124,808.40. Following the sale, the director directly owned 38,870 shares of the company's stock, valued at $575,276. This represents a 17.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry L. Padgett sold 7,558 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $15.14, for a total transaction of $114,428.12. Following the completion of the sale, the director directly owned 32,635 shares in the company, valued at $494,093.90. This represents a 18.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,932 shares of company stock worth $3,028,489. 11.17% of the stock is owned by corporate insiders.

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.