Wellington Management Group LLP Purchases 353,714 Shares of Freshworks Inc. $FRSH

Wellington Management Group LLP grew its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 9.7% in the second quarter, HoldingsChannel reports. The fund owned 4,000,543 shares of the company’s stock after acquiring an additional 353,714 shares during the period. Wellington Management Group LLP’s holdings in Freshworks were worth $40,485,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FRSH. Royal Bank of Canada grew its position in Freshworks by 120.8% in the first quarter. Royal Bank of Canada now owns 21,388 shares of the company’s stock valued at $302,000 after purchasing an additional 11,703 shares in the last quarter. 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 buying an additional 1,040 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Freshworks by 35.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,225,056 shares of the company’s stock worth $31,396,000 after buying an additional 578,628 shares in the last quarter. Woodline Partners LP lifted its position in Freshworks by 13.5% during the 1st quarter. Woodline Partners LP now owns 21,569 shares of the company’s stock worth $304,000 after buying an additional 2,571 shares in the last quarter. Finally, Focus Partners Wealth boosted its stake in shares of Freshworks by 20.2% during the 1st quarter. Focus Partners Wealth now owns 12,399 shares of the company’s stock worth $175,000 after buying an additional 2,086 shares during the last quarter. 75.58% of the stock is owned by institutional investors.

Insider Transactions at Freshworks

In related news, Director Jennifer H. Taylor sold 6,618 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $10.44, for a total value of $69,091.92. Following the transaction, the director owned 62,673 shares in the company, valued at $654,306.12. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Philippa Lawrence sold 52,767 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $13.25, for a total transaction of $699,162.75. Following the sale, the chief accounting officer directly owned 389,296 shares in the company, valued at $5,158,172. This trade represents a 11.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 80,003 shares of company stock worth $969,494 over the last ninety days. 8.54% of the stock is owned by insiders.

Freshworks Trading Down 4.7%

Shares of Freshworks stock opened at $12.73 on Friday. The firm’s 50 day moving average is $11.63 and its 200 day moving average is $9.61. The firm has a market capitalization of $3.32 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 11.13 and a beta of 0.89. Freshworks Inc. has a 1 year low of $6.79 and a 1 year high of $13.99.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $237.38 million for the quarter, compared to the consensus estimate of $233.62 million. Freshworks had a return on equity of 5.52% and a net margin of 20.49%.Freshworks’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Freshworks has set its FY 2026 guidance at 0.660-0.680 EPS and its Q3 2026 guidance at 0.180-0.180 EPS. As a group, research analysts anticipate that Freshworks Inc. will post 0.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on FRSH. UBS Group upped their price target on shares of Freshworks from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler boosted their price objective on shares of Freshworks from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Freshworks from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Citigroup reiterated a “market outperform” rating on shares of Freshworks in a research note on Tuesday, June 2nd. Finally, Weiss Ratings raised Freshworks from a “sell (d)” rating to a “hold (c-)” rating in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.17.

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.