Walleye Capital LLC Grows Position in Freshworks Inc. $FRSH

Walleye Capital LLC boosted its position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 2,480.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,247,655 shares of the company's stock after buying an additional 1,199,311 shares during the period. Walleye Capital LLC owned 0.44% of Freshworks worth $10,019,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its holdings in shares of Freshworks by 954.9% in the 4th quarter. IFP Advisors Inc now owns 2,152 shares of the company's stock valued at $26,000 after acquiring an additional 1,948 shares during the period. Summit Securities Group LLC purchased a new stake in Freshworks in the 4th quarter valued at $26,000. Cullen Frost Bankers Inc. acquired a new stake in Freshworks during the 4th quarter worth $36,000. Allworth Financial LP grew its position in Freshworks by 479.9% during the 4th quarter. Allworth Financial LP now owns 3,201 shares of the company's stock worth $39,000 after purchasing an additional 2,649 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Freshworks by 164.0% in the first quarter. Meeder Asset Management Inc. now owns 6,156 shares of the company's stock valued at $49,000 after purchasing an additional 3,824 shares during the period. Hedge funds and other institutional investors own 75.58% of the company's stock.

Freshworks Stock Down 5.9%

Shares of NASDAQ:FRSH opened at $10.06 on Thursday. Freshworks Inc. has a fifty-two week low of $6.79 and a fifty-two week high of $14.74. The firm's 50-day simple moving average is $9.71 and its 200-day simple moving average is $9.22. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 16.23 and a beta of 0.88.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $228.63 million during the quarter, compared to analysts' expectations of $223.63 million. Freshworks had a net margin of 20.69% and a return on equity of 4.27%. The firm's revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. Freshworks has set its FY 2026 guidance at 0.610-0.630 EPS and its Q2 2026 guidance at 0.130-0.130 EPS. On average, research analysts forecast that Freshworks Inc. will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jennifer H. Taylor sold 6,618 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $10.44, for a total transaction of $69,091.92. Following the completion of the transaction, the director directly owned 62,673 shares of the company's stock, valued at approximately $654,306.12. This represents a 9.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry L. Padgett sold 6,618 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $10.49, for a total value of $69,422.82. Following the completion of the sale, the director directly owned 47,270 shares of the company's stock, valued at $495,862.30. This represents a 12.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 27,236 shares of company stock worth $270,331. Company insiders own 8.54% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on FRSH. Morgan Stanley reduced their target price on shares of Freshworks from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Monday, May 11th. Zacks Research lowered Freshworks from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. Wall Street Zen cut Freshworks from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Citigroup reaffirmed a "market outperform" rating on shares of Freshworks in a research note on Tuesday, June 2nd. Finally, Weiss Ratings downgraded Freshworks from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $12.18.

Freshworks Company Profile

Freshworks, Inc is a global provider of cloud-based customer engagement software designed to help businesses streamline customer support, sales, marketing, and IT service operations. The company's integrated suite of solutions enables organizations of all sizes to deliver seamless experiences across multiple channels, including email, chat, phone, and social media. Freshworks' platform is built on modern, user-friendly interfaces and offers native automation, AI-powered insights, and analytics to improve efficiency and customer satisfaction.

The company's flagship product, Freshdesk, serves as a helpdesk solution for customer support teams, while Freshservice addresses IT service management needs.

Want to see what other hedge funds are holding FRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freshworks Inc. (NASDAQ:FRSH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.