Teza Capital Management LLC Lowers Stock Position in Freshworks Inc. $FRSH

Key Points

• Teza Capital Management LLC has significantly reduced its stake in Freshworks Inc. by 80.8%, selling 43,594 shares and now holding only 10,357 shares, valued at $146,000.
• Several institutional investors have increased their stakes in Freshworks; for instance, Vanguard Group boosted its stake by 4.5%, now owning 26.2 million shares worth approximately $369.5 million.
• Freshworks reported a 19.6% year-over-year increase in revenue for the last quarter, with earnings per share at $0.18, surpassing analysts' expectations of $0.12.

Teza Capital Management LLC lessened its holdings in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 80.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,357 shares of the company's stock after selling 43,594 shares during the period. Teza Capital Management LLC's holdings in Freshworks were worth $146,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its stake in Freshworks by 34.9% in the fourth quarter. Ameriprise Financial Inc. now owns 369,370 shares of the company's stock worth $5,973,000 after buying an additional 95,463 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Freshworks in the fourth quarter worth approximately $3,875,000. Cetera Investment Advisers bought a new position in Freshworks in the fourth quarter worth approximately $190,000. EP Wealth Advisors LLC bought a new position in Freshworks in the fourth quarter worth approximately $270,000. Finally, Deutsche Bank AG raised its stake in Freshworks by 15.8% in the fourth quarter. Deutsche Bank AG now owns 513,810 shares of the company's stock worth $8,308,000 after buying an additional 70,001 shares in the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FRSH. Cantor Fitzgerald raised shares of Freshworks to an "overweight" rating and set a $20.00 price objective for the company in a research note on Tuesday, June 3rd. Robert W. Baird reduced their price objective on shares of Freshworks from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday. Needham & Company LLC reissued a "buy" rating and set a $25.00 target price on shares of Freshworks in a research report on Friday. Piper Sandler increased their target price on shares of Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, JMP Securities reissued a "market outperform" rating and set a $27.00 target price on shares of Freshworks in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $20.00.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Johanna Flower sold 8,000 shares of the company's 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 transaction, the director owned 48,094 shares in the company, valued at approximately $711,791.20. This represents a 14.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mika Yamamoto sold 4,289 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $13.18, for a total transaction of $56,529.02. Following the transaction, the insider owned 533,993 shares in the company, valued at $7,038,027.74. The trade was a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,181 shares of company stock worth $1,107,538 in the last three months. 11.17% of the stock is owned by company insiders.

Freshworks Price Performance

Freshworks stock traded up $0.11 during mid-day trading on Monday, reaching $12.56. 780,423 shares of the company traded hands, compared to its average volume of 3,761,823. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -69.80 and a beta of 0.94. The firm's fifty day moving average is $13.57 and its two-hundred day moving average is $14.27.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results 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. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. 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 prior year, the business posted $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, equities research analysts predict 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.