Renaissance Technologies LLC Has $36.74 Million Position in Freshworks Inc. $FRSH

Renaissance Technologies LLC raised its holdings in Freshworks Inc. (NASDAQ:FRSH) by 79.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,576,000 shares of the company’s stock after purchasing an additional 2,021,412 shares during the period. Renaissance Technologies LLC’s holdings in Freshworks were worth $36,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Freshworks Trading Up 5.4%

Shares of Freshworks stock opened at $10.82 on Tuesday. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 17.45 and a beta of 0.88. The firm’s 50-day moving average price is $9.80 and its two-hundred day moving average price is $9.19. Freshworks Inc. has a 1-year low of $6.79 and a 1-year high of $14.36.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $228.63 million during 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%. Freshworks’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company 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, equities research analysts predict that Freshworks Inc. will post -0.02 EPS for the current year.

Insider Activity at Freshworks

In other Freshworks news, 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 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 document filed 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 Barry L. Padgett sold 6,618 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $10.49, for a total value of $69,422.82. Following the sale, the director owned 47,270 shares in the company, valued at $495,862.30. The trade was a 12.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 27,236 shares of company stock valued at $270,331 in the last three months. Corporate insiders own 8.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FRSH. Morgan Stanley lowered their price objective on Freshworks from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Citigroup restated a “market outperform” rating on shares of Freshworks in a research report on Tuesday, June 2nd. Guggenheim assumed coverage on Freshworks in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $25.00 price target on the stock. Weiss Ratings cut Freshworks from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut Freshworks from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to 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.