Edgestream Partners L.P. Acquires 397,767 Shares of Freshworks Inc. $FRSH

Edgestream Partners L.P. grew its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 178.6% during the first quarter, HoldingsChannel.com reports. The firm owned 620,537 shares of the company’s stock after acquiring an additional 397,767 shares during the quarter. Edgestream Partners L.P.’s holdings in Freshworks were worth $4,983,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Balyasny Asset Management L.P. acquired a new stake in shares of Freshworks in the fourth quarter valued at approximately $31,967,000. Norges Bank acquired a new stake in Freshworks during the fourth quarter worth approximately $31,873,000. Renaissance Technologies LLC grew its position in Freshworks by 79.1% during the first quarter. Renaissance Technologies LLC now owns 4,576,000 shares of the company’s stock worth $36,745,000 after buying an additional 2,021,412 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in Freshworks by 1,528.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,708,811 shares of the company’s stock worth $20,933,000 after acquiring an additional 1,603,887 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in Freshworks by 132.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,790,166 shares of the company’s stock worth $32,840,000 after acquiring an additional 1,590,384 shares during the period. 75.58% of the stock is owned by institutional investors.

Insider Activity at Freshworks

In related news, Director Jennifer H. Taylor sold 6,618 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $10.44, for a total transaction of $69,091.92. Following the sale, the director owned 62,673 shares of the company’s stock, valued at $654,306.12. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Philippa Lawrence sold 3,470 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $10.13, for a total value of $35,151.10. Following the sale, the chief accounting officer owned 456,144 shares in the company, valued at $4,620,738.72. This represents a 0.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 have sold a total of 27,236 shares of company stock valued at $270,331 in the last 90 days. 8.54% of the stock is owned by corporate insiders.

Freshworks Price Performance

Shares of NASDAQ:FRSH opened at $11.35 on Friday. Freshworks Inc. has a one year low of $6.79 and a one year high of $14.06. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 18.31 and a beta of 0.88. The firm has a 50 day simple moving average of $9.98 and a 200 day simple moving average of $9.20.

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

Analyst Ratings Changes

FRSH has been the subject of several recent analyst reports. Weiss Ratings cut shares of Freshworks from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Zacks Research downgraded shares of Freshworks from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Morgan Stanley decreased their target price on shares of Freshworks from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Wall Street Zen cut shares of Freshworks from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Freshworks in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.25.

Freshworks Company 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.