Freshworks Inc. $FRSH Position Decreased by Steinberg Asset Management LLC

Steinberg Asset Management LLC cut its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 44.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,942 shares of the company’s stock after selling 49,601 shares during the period. Steinberg Asset Management LLC’s holdings in Freshworks were worth $792,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Generation Investment Management LLP purchased a new position in shares of Freshworks in the second quarter valued at approximately $6,392,000. Assenagon Asset Management S.A. acquired a new position in shares of Freshworks during the 2nd quarter worth about $2,565,000. First Trust Advisors LP increased its stake in Freshworks by 209.6% in the first quarter. First Trust Advisors LP now owns 262,849 shares of the company’s stock valued at $2,111,000 after purchasing an additional 177,963 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Freshworks by 403.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,444,124 shares of the company’s stock worth $11,596,000 after acquiring an additional 1,157,277 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Freshworks by 80.7% in the 1st quarter. Principal Financial Group Inc. now owns 765,475 shares of the company’s stock valued at $6,147,000 after purchasing an additional 341,947 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Freshworks Price Performance

NASDAQ:FRSH opened at $14.72 on Monday. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 9.81 and a beta of 0.80. The firm’s fifty day moving average price is $13.43 and its 200 day moving average price is $10.45. Freshworks Inc. has a 1-year low of $6.79 and a 1-year high of $15.51.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. Freshworks had a net margin of 20.49% and a return on equity of 5.52%. The company had revenue of $237.38 million during the quarter, compared to the consensus estimate of $233.62 million. During the same quarter in the prior year, the firm earned $0.18 EPS. Freshworks’s quarterly revenue was up 16.0% on a year-over-year basis. 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, analysts expect that Freshworks Inc. will post 0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FRSH has been the topic of several research analyst reports. Guggenheim assumed coverage on Freshworks in a research report on Wednesday, July 22nd. They set a “buy” rating and a $25.00 price target on the stock. Wells Fargo & Company raised their target price on shares of Freshworks from $10.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 28th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Freshworks in a research report on Tuesday, October 13th. KeyCorp began coverage on shares of Freshworks in a report on Monday, September 14th. They issued an “overweight” rating and a $18.00 target price for the company. Finally, Robert W. Baird set a $13.00 target price on shares of Freshworks in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Freshworks currently has a consensus rating of “Moderate Buy” and an average price target of $14.85.

Insider Transactions at Freshworks

In other Freshworks news, CAO Philippa Lawrence sold 52,767 shares of Freshworks stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $13.25, for a total value of $699,162.75. Following the sale, the chief accounting officer owned 389,296 shares of the company’s stock, valued at approximately $5,158,172. The trade was a 11.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. 8.54% of the stock is owned by corporate insiders.

Freshworks Company Profile

Freshworks Inc (NASDAQ:FRSH) develops cloud-based customer and employee engagement software for businesses of various sizes. Its products are designed to help organizations manage customer support, IT service operations, sales activities, and marketing workflows through user-friendly, artificial intelligence-enabled applications.

The company’s product portfolio includes Freshdesk for customer service and support, Freshservice for IT and enterprise service management, Freshsales for customer relationship management, and Freshmarketer for marketing automation and customer engagement.