Walleye Capital LLC Raises Stock Position in Freshworks Inc. $FRSH

Walleye Capital LLC grew its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 2,480.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,247,655 shares of the company’s stock after acquiring an additional 1,199,311 shares during the period. Walleye Capital LLC’s holdings in Freshworks were worth $10,019,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of FRSH. Amundi increased its stake in Freshworks by 1.3% in the 1st quarter. Amundi now owns 80,074 shares of the company’s stock valued at $1,049,000 after purchasing an additional 1,040 shares in the last quarter. Moody National Bank Trust Division boosted its position in Freshworks by 4.1% during the fourth quarter. Moody National Bank Trust Division now owns 46,695 shares of the company’s stock worth $572,000 after purchasing an additional 1,823 shares in the last quarter. IFP Advisors Inc grew its holdings in Freshworks by 954.9% in the fourth quarter. IFP Advisors Inc now owns 2,152 shares of the company’s stock valued at $26,000 after purchasing an additional 1,948 shares during the last quarter. Focus Partners Wealth grew its holdings in Freshworks by 20.2% in the first quarter. Focus Partners Wealth now owns 12,399 shares of the company’s stock valued at $175,000 after purchasing an additional 2,086 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Freshworks by 0.8% in the second quarter. Canada Pension Plan Investment Board now owns 267,900 shares of the company’s stock valued at $3,994,000 after buying an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Price Performance

NASDAQ:FRSH opened at $10.06 on Thursday. The firm has a market cap of $2.78 billion, a PE ratio of 16.23 and a beta of 0.88. The firm has a 50 day simple moving average of $9.71 and a 200-day simple moving average of $9.22. Freshworks Inc. has a 1-year low of $6.79 and a 1-year high of $14.74.

Freshworks (NASDAQ:FRSH) last announced its earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The firm had revenue of $228.63 million for the quarter, compared to analyst estimates of $223.63 million. Freshworks had a net margin of 20.69% and a return on equity of 4.27%. Freshworks’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business earned $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. As a group, sell-side analysts expect that Freshworks Inc. will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Philippa Lawrence sold 10,530 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $9.18, for a total transaction of $96,665.40. Following the sale, the chief accounting officer owned 465,823 shares in the company, valued at $4,276,255.14. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Barry L. Padgett sold 6,618 shares of Freshworks stock in a transaction 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 approximately $495,862.30. This represents a 12.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 27,236 shares of company stock valued at $270,331 in the last quarter. 8.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on FRSH. Guggenheim assumed coverage on shares of Freshworks in a research note on Wednesday. They issued a “buy” rating on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Freshworks in a report on Tuesday, June 2nd. Weiss Ratings lowered shares of Freshworks from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Morgan Stanley dropped their price objective on shares of Freshworks from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded Freshworks from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.18.

Freshworks 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.