PDT Partners LLC Has $3.23 Million Stock Holdings in Freshworks Inc. $FRSH

PDT Partners LLC increased its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 554.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 229,060 shares of the company’s stock after buying an additional 194,034 shares during the period. PDT Partners LLC owned about 0.08% of Freshworks worth $3,232,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Freshworks by 2,786.7% during the 1st quarter. Principal Financial Group Inc. now owns 512,875 shares of the company’s stock worth $7,237,000 after buying an additional 495,108 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Freshworks by 2.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,642,290 shares of the company’s stock worth $23,173,000 after purchasing an additional 32,333 shares during the last quarter. Deutsche Bank AG raised its holdings in Freshworks by 15.8% during the 4th quarter. Deutsche Bank AG now owns 513,810 shares of the company’s stock worth $8,308,000 after purchasing an additional 70,001 shares during the last quarter. Pier 88 Investment Partners LLC bought a new position in Freshworks during the 1st quarter worth approximately $675,000. Finally, WCM Investment Management LLC bought a new position in Freshworks during the 1st quarter worth approximately $13,426,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FRSH shares. Wall Street Zen lowered shares of Freshworks from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 23rd. Cantor Fitzgerald upgraded 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. Finally, Piper Sandler lifted their price objective on shares of Freshworks from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Freshworks currently has an average rating of “Moderate Buy” and an average target price of $20.29.

Freshworks Stock Down 0.4%

NASDAQ:FRSH opened at $13.47 on Tuesday. The company has a fifty day moving average of $13.93 and a 200-day moving average of $14.55. The firm has a market capitalization of $3.93 billion, a P/E ratio of -74.83 and a beta of 0.94. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The business had revenue of $204.68 million during 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%. Freshworks’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. On average, analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Johanna Flower sold 8,000 shares of the business’s stock in a transaction 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 completion of the sale, the director owned 48,094 shares in the company, valued at approximately $711,791.20. The trade was 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, Director Zachary Nelson sold 8,432 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $13.01, for a total transaction of $109,700.32. Following the sale, the director owned 38,870 shares of the company’s stock, valued at $505,698.70. This trade represents a 17.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 196,137 shares of company stock worth $3,035,364 in the last ninety days. 11.17% of the stock is currently owned by corporate insiders.

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.