Wellington Management Group LLP Invests $48.81 Million in Freshworks Inc. $FRSH

Wellington Management Group LLP purchased a new position in shares of Freshworks Inc. (NASDAQ:FRSH) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,459,434 shares of the company’s stock, valued at approximately $48,813,000. Wellington Management Group LLP owned 1.17% of Freshworks at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FRSH. Eminence Capital LP acquired a new stake in shares of Freshworks during the 4th quarter worth approximately $86,002,000. Nuveen LLC acquired a new stake in shares of Freshworks during the 1st quarter worth approximately $35,129,000. D. E. Shaw & Co. Inc. grew its holdings in Freshworks by 625.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,631,949 shares of the company’s stock valued at $26,389,000 after purchasing an additional 1,407,033 shares during the period. Vanguard Group Inc. grew its holdings in Freshworks by 4.5% during the first quarter. Vanguard Group Inc. now owns 26,189,892 shares of the company’s stock valued at $369,539,000 after purchasing an additional 1,126,013 shares during the period. Finally, TPG GP A LLC grew its holdings in Freshworks by 28.7% during the fourth quarter. TPG GP A LLC now owns 4,346,855 shares of the company’s stock valued at $70,289,000 after purchasing an additional 969,283 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports 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. Scotiabank boosted their price objective on shares of Freshworks from $14.00 to $18.00 and gave the company a “sector perform” rating in a report on Wednesday, April 30th. Wall Street Zen cut shares of Freshworks from a “strong-buy” rating to a “buy” rating in a report on Saturday. JMP Securities restated a “market outperform” rating and set a $27.00 price objective on shares of Freshworks in a report on Wednesday, April 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Freshworks from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, April 30th. 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.29.

Insiders Place Their Bets

In other news, insider Mika Yamamoto sold 4,289 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $13.00, for a total value of $55,757.00. Following the sale, the insider owned 566,198 shares of the company’s stock, valued at $7,360,574. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Zachary Nelson sold 8,432 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $13.01, for a total transaction of $109,700.32. Following the completion of the sale, the director directly owned 38,870 shares in the company, valued at approximately $505,698.70. This represents a 17.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 200,491 shares of company stock valued at $3,101,115 over the last 90 days. 11.17% of the stock is currently owned by company insiders.

Freshworks Stock Performance

Shares of FRSH opened at $13.97 on Friday. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77. The firm’s 50 day moving average price is $14.11 and its two-hundred day moving average price is $14.75. The firm has a market cap of $4.07 billion, a P/E ratio of -77.61 and a beta of 0.94.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The business had revenue of $204.68 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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, sell-side analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

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.