JT Stratford LLC Sells 5,312 Shares of Freshworks Inc. $FRSH

JT Stratford LLC reduced its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 26.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,821 shares of the company’s stock after selling 5,312 shares during the quarter. JT Stratford LLC’s holdings in Freshworks were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FRSH. Eminence Capital LP bought a new stake in Freshworks during the 4th quarter worth about $86,002,000. Wellington Management Group LLP bought a new stake in Freshworks during the 1st quarter worth about $48,813,000. Fuller & Thaler Asset Management Inc. bought a new stake in Freshworks during the 4th quarter worth about $49,946,000. Nuveen LLC bought a new stake in Freshworks during the 1st quarter worth about $35,129,000. Finally, Topline Capital Management LLC bought a new stake in shares of Freshworks in the 4th quarter valued at about $27,166,000. 75.58% of the stock is owned by institutional investors.

Insider Activity

In other Freshworks news, Director Jennifer H. Taylor sold 7,558 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $15.13, for a total transaction of $114,352.54. Following the completion of the transaction, the director owned 44,218 shares of the company’s stock, valued at $669,018.34. This represents a 14.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Rathnagirish Mathrubootham sold 70,997 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $16.01, for a total value of $1,136,661.97. Following the transaction, the chairman directly owned 724,515 shares of the company’s stock, valued at approximately $11,599,485.15. This trade represents a 8.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,491 shares of company stock worth $3,101,115. 11.17% of the stock is currently owned by insiders.

Freshworks Stock Performance

Shares of FRSH opened at $13.11 on Thursday. The stock has a 50 day simple moving average of $14.18 and a 200 day simple moving average of $14.84. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The firm has a market capitalization of $3.82 billion, a PE ratio of -72.83 and a beta of 0.94.

Freshworks (NASDAQ:FRSH) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $198.85 million. During the same period in the previous year, the firm earned $0.08 EPS. Freshworks’s quarterly revenue 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. Equities research analysts predict that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FRSH has been the subject of a number of recent analyst reports. UBS Group lowered their price target on Freshworks from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Piper Sandler upped their price target on Freshworks from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Wells Fargo & Company upped their price target on Freshworks from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Wednesday, April 30th. Cantor Fitzgerald raised Freshworks to an “overweight” rating and set a $20.00 price target for the company in a research note on Tuesday, June 3rd. Finally, Morgan Stanley upped their price target on Freshworks from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, May 1st. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.29.

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.