Teza Capital Management LLC Sells 43,594 Shares of 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 cut its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 80.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,357 shares of the company's stock after selling 43,594 shares during the quarter. Teza Capital Management LLC's holdings in Freshworks were worth $146,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Xponance Inc. raised its holdings in Freshworks by 5.1% in the 1st quarter. Xponance Inc. now owns 15,605 shares of the company's stock worth $220,000 after purchasing an additional 758 shares in the last quarter. Amundi raised its holdings in Freshworks by 1.3% in the 1st quarter. Amundi now owns 80,074 shares of the company's stock worth $1,049,000 after purchasing an additional 1,040 shares in the last quarter. Legato Capital Management LLC raised its holdings in 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 purchasing an additional 1,260 shares in the last quarter. BluePointe Capital Management LLC raised its holdings in 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 purchasing an additional 1,393 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in 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 purchasing an additional 1,728 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors.

Freshworks Stock Performance

Shares of FRSH traded down $0.46 on Friday, hitting $12.45. 4,177,790 shares of the stock traded hands, compared to its average volume of 3,762,896. The company has a market capitalization of $3.63 billion, a PE ratio of -69.16 and a beta of 0.94. The business has a 50 day simple moving average of $13.57 and a 200 day simple moving average of $14.31. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77.

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. The company had revenue of $204.68 million during 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 firm's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm 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. On average, equities analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on FRSH. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 price target on shares of Freshworks in a research note on Friday. JMP Securities reiterated a "market outperform" rating and issued a $27.00 price target on shares of Freshworks in a research note on Friday. Wall Street Zen lowered shares of Freshworks from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 23rd. Morgan Stanley decreased their price target on shares of Freshworks from $18.00 to $16.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Cantor Fitzgerald upgraded shares of Freshworks to an "overweight" rating and set a $20.00 price target for the company in a research note on Tuesday, June 3rd. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.14.

Insider Activity

In other news, Director Johanna Flower sold 8,000 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total transaction of $118,400.00. Following the sale, the director owned 48,094 shares of the company's stock, valued at $711,791.20. This trade represents a 14.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barry L. Padgett sold 7,558 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $15.14, for a total transaction of $114,428.12. Following the sale, the director directly owned 32,635 shares in the company, valued at approximately $494,093.90. The trade was a 18.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,181 shares of company stock worth $1,107,538. 11.17% of the stock is owned by corporate insiders.

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.