State of Wyoming Reduces Position in Freshworks Inc. $FRSH

State of Wyoming decreased its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 78.2% in the first quarter, HoldingsChannel reports. The fund owned 15,037 shares of the company’s stock after selling 53,800 shares during the quarter. State of Wyoming’s holdings in Freshworks were worth $121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of FRSH. First Trust Advisors LP lifted its position in Freshworks by 209.6% during 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 in the last quarter. Meeder Asset Management Inc. increased its position in Freshworks by 164.0% in the first quarter. Meeder Asset Management Inc. now owns 6,156 shares of the company’s stock worth $49,000 after buying an additional 3,824 shares in the last quarter. Swiss National Bank increased its position in Freshworks by 4.4% in the first quarter. Swiss National Bank now owns 391,000 shares of the company’s stock worth $3,140,000 after buying an additional 16,300 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Freshworks by 12.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 46,236 shares of the company’s stock worth $373,000 after buying an additional 5,112 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Freshworks by 12.8% in the first quarter. Bank of New York Mellon Corp now owns 1,168,094 shares of the company’s stock worth $9,380,000 after buying an additional 132,443 shares during the period. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FRSH has been the subject of a number of recent research reports. Weiss Ratings downgraded Freshworks from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. 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 research note on Monday, May 11th. Guggenheim started coverage on shares of Freshworks in a report on Wednesday, July 22nd. They set a “buy” rating and a $25.00 price target on the stock. Zacks Research lowered shares of Freshworks from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Finally, Wall Street Zen cut shares of Freshworks from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned 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 an average rating of “Hold” and a consensus target price of $13.25.

Insider Buying and Selling at Freshworks

In other news, CAO Philippa Lawrence sold 3,470 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $10.13, for a total value of $35,151.10. Following the transaction, the chief accounting officer owned 456,144 shares of the company’s stock, valued at approximately $4,620,738.72. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Also, Director Jennifer H. Taylor sold 6,618 shares of the company’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 transaction, the director owned 62,673 shares of the company’s stock, valued at approximately $654,306.12. This represents a 9.55% 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. Insiders sold a total of 27,236 shares of company stock valued at $270,331 in the last three months. 8.54% of the stock is currently owned by corporate insiders.

Freshworks Stock Up 0.8%

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

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Freshworks had a return on equity of 4.27% and a net margin of 20.69%.The company 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 company earned $0.18 EPS. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. Freshworks has set its FY 2026 guidance at 0.610-0.630 EPS and its Q2 2026 guidance at 0.130-0.130 EPS. Research analysts expect that Freshworks Inc. will post -0.02 EPS for the current fiscal year.

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.