Principal Financial Group Inc. Acquires 341,947 Shares of Freshworks Inc. $FRSH

Principal Financial Group Inc. boosted its holdings in Freshworks Inc. (NASDAQ:FRSH) by 80.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 765,475 shares of the company’s stock after purchasing an additional 341,947 shares during the quarter. Principal Financial Group Inc. owned about 0.27% of Freshworks worth $6,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. IFP Advisors Inc grew its stake in shares of Freshworks by 954.9% in the 4th quarter. IFP Advisors Inc now owns 2,152 shares of the company’s stock worth $26,000 after buying an additional 1,948 shares during the last quarter. Summit Securities Group LLC purchased a new position in Freshworks during the fourth quarter valued at $26,000. Cullen Frost Bankers Inc. bought a new stake in Freshworks in the fourth quarter worth $36,000. Allworth Financial LP grew its stake in shares of Freshworks by 479.9% in the fourth quarter. Allworth Financial LP now owns 3,201 shares of the company’s stock worth $39,000 after acquiring an additional 2,649 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Freshworks by 427.6% in the second quarter. EverSource Wealth Advisors LLC now owns 4,479 shares of the company’s stock worth $67,000 after acquiring an additional 3,630 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Freshworks Stock Performance

Shares of NASDAQ:FRSH opened at $10.82 on Tuesday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 17.45 and a beta of 0.88. The business has a 50-day simple moving average of $9.80 and a two-hundred day simple moving average of $9.19. Freshworks Inc. has a fifty-two week low of $6.79 and a fifty-two week high of $14.36.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. Freshworks had a net margin of 20.69% and a return on equity of 4.27%. The firm had revenue of $228.63 million for the quarter, compared to the consensus estimate of $223.63 million. During the same quarter last year, the firm posted $0.18 EPS. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. 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, research analysts predict that Freshworks Inc. will post -0.02 earnings per share for the current year.

Insider Activity at Freshworks

In related news, Director Barry L. Padgett sold 6,618 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $10.49, for a total transaction of $69,422.82. Following the transaction, the director owned 47,270 shares in the company, valued at $495,862.30. This represents a 12.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Philippa Lawrence sold 10,530 shares of Freshworks stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 465,823 shares of the company’s stock, valued at approximately $4,276,255.14. This trade represents a 2.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,236 shares of company stock worth $270,331 over the last quarter. Company insiders own 8.54% of the company’s stock.

Analysts Set New Price Targets

FRSH has been the subject of several recent analyst reports. Zacks Research lowered Freshworks from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Guggenheim began coverage on shares of Freshworks in a research report on Wednesday, July 22nd. They set a “buy” rating and a $25.00 price objective on the stock. Wall Street Zen lowered shares of Freshworks from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley reduced 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, Citigroup reaffirmed a “market outperform” rating on shares of Freshworks in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.25.

About Freshworks

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.