Steinberg Asset Management LLC Sells 49,601 Shares of Freshworks Inc. $FRSH

Steinberg Asset Management LLC lowered its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 44.5% during the third quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nykredit A S acquired a new stake in shares of Freshworks during the 2nd quarter valued at approximately $28,000. Root Financial Partners LLC purchased a new stake in shares of Freshworks during the 3rd quarter worth approximately $29,000. Meeder Asset Management Inc. grew its holdings in shares of Freshworks by 164.0% in the 1st quarter. Meeder Asset Management Inc. now owns 6,156 shares of the company’s stock worth $49,000 after acquiring an additional 3,824 shares during the period. Summit Securities Group LLC grew its holdings in shares of Freshworks by 186.3% in the 1st quarter. Summit Securities Group LLC now owns 6,043 shares of the company’s stock worth $49,000 after acquiring an additional 3,932 shares during the period. Finally, Optiver Holding B.V. increased its stake in Freshworks by 277.1% in the 1st quarter. Optiver Holding B.V. now owns 6,211 shares of the company’s stock valued at $50,000 after purchasing an additional 4,564 shares in the last quarter. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Freshworks Stock 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 company’s 50-day moving average is $13.43 and its two-hundred day moving average is $10.45. Freshworks Inc. has a 12-month low of $6.79 and a 12-month 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, beating analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $237.38 million during 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%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share. Freshworks has set its FY 2026 guidance at 0.660-0.680 EPS and its Q3 2026 guidance at 0.180-0.180 EPS. On average, equities research analysts forecast that Freshworks Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Freshworks news, CAO Philippa Lawrence sold 3,492 shares of Freshworks stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $12.98, for a total value of $45,326.16. Following the completion of the sale, the chief accounting officer owned 379,639 shares in the company, valued at $4,927,714.22. The trade was a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on FRSH. Wells Fargo & Company lifted their price target on Freshworks from $10.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 28th. Guggenheim began coverage on shares of Freshworks in a report on Wednesday, July 22nd. They set a “buy” rating and a $25.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Freshworks in a research report on Tuesday, October 13th. Weiss Ratings raised shares of Freshworks from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 29th. Finally, UBS Group increased their target price on Freshworks from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.85.

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.