WestBridge Capital Management LLC Cuts Stake in Freshworks Inc. $FRSH

WestBridge Capital Management LLC reduced its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 41.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,856,660 shares of the company’s stock after selling 5,522,600 shares during the period. Freshworks comprises 100.0% of WestBridge Capital Management LLC’s portfolio, making the stock its biggest position. WestBridge Capital Management LLC owned about 3.01% of Freshworks worth $79,509,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FRSH. Vanguard Group Inc. increased its stake in Freshworks by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 27,240,469 shares of the company’s stock worth $333,696,000 after purchasing an additional 922,549 shares during the period. Wellington Management Group LLP lifted its holdings in Freshworks by 9.2% during the 4th quarter. Wellington Management Group LLP now owns 5,359,784 shares of the company’s stock valued at $65,657,000 after buying an additional 453,627 shares in the last quarter. Geode Capital Management LLC boosted its position in Freshworks by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,126,112 shares of the company’s stock valued at $62,805,000 after buying an additional 95,720 shares during the period. State Street Corp boosted its position in Freshworks by 1.2% in the 4th quarter. State Street Corp now owns 4,904,684 shares of the company’s stock valued at $60,082,000 after buying an additional 56,935 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in Freshworks by 11.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,748,985 shares of the company’s stock worth $58,175,000 after acquiring an additional 478,473 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Analyst Ratings Changes

FRSH has been the subject of a number of research reports. Cantor Fitzgerald boosted their price target on Freshworks from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Guggenheim began coverage on shares of Freshworks in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $25.00 price objective for the company. Zacks Research downgraded shares of Freshworks from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. UBS Group upped their target price on Freshworks from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen raised Freshworks from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Freshworks presently has a consensus rating of “Moderate Buy” and an average target price of $14.17.

Insider Activity

In related news, Director Jennifer H. Taylor sold 6,618 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $10.44, for a total value of $69,091.92. Following the sale, the director owned 62,673 shares in the company, valued at $654,306.12. This represents a 9.55% decrease in their ownership of the stock. The sale 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, Director Barry L. Padgett sold 6,618 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $10.49, for a total transaction of $69,422.82. Following the completion of the transaction, the director owned 47,270 shares in the company, valued at approximately $495,862.30. This trade represents a 12.28% 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. Over the last three months, insiders have sold 27,236 shares of company stock valued at $270,331. Company insiders own 8.54% of the company’s stock.

Freshworks Stock Performance

Shares of FRSH stock opened at $13.19 on Thursday. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 11.22 and a beta of 0.89. The stock’s 50-day simple moving average is $11.49 and its 200-day simple moving average is $9.55. Freshworks Inc. has a fifty-two week low of $6.79 and a fifty-two week high of $13.99.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, topping 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 net margin of 20.49% and a return on equity of 5.52%. Freshworks’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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, equities analysts forecast that Freshworks Inc. will post 0.04 earnings per share for the current year.

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.