Victory Capital Management Inc. Sells 157,841 Shares of Freshworks Inc. $FRSH

Victory Capital Management Inc. decreased its holdings in Freshworks Inc. (NASDAQ:FRSH) by 15.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 875,758 shares of the company’s stock after selling 157,841 shares during the quarter. Victory Capital Management Inc. owned about 0.30% of Freshworks worth $10,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its position in Freshworks by 34.1% during the second quarter. Envestnet Asset Management Inc. now owns 110,654 shares of the company’s stock valued at $1,650,000 after buying an additional 28,152 shares during the period. Geode Capital Management LLC grew its position in shares of Freshworks by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,856,163 shares of the company’s stock worth $72,414,000 after buying an additional 75,688 shares during the period. Nordea Investment Management AB bought a new position in shares of Freshworks in the 3rd quarter worth about $5,083,000. Edgestream Partners L.P. lifted its position in Freshworks by 744.6% during the 2nd quarter. Edgestream Partners L.P. now owns 367,873 shares of the company’s stock valued at $5,485,000 after acquiring an additional 324,319 shares during the period. Finally, Thoroughbred Financial Services LLC bought a new stake in Freshworks during the second quarter worth about $1,080,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FRSH has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Freshworks from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Cantor Fitzgerald lowered their price objective on Freshworks from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. UBS Group set a $11.00 target price on Freshworks in a research note on Wednesday, February 11th. Zacks Research downgraded Freshworks from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Jefferies Financial Group lowered Freshworks from a “buy” rating to a “hold” rating and lowered their price target for the stock from $20.00 to $8.00 in a research report on Monday, February 23rd. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.92.

Freshworks Price Performance

Freshworks stock opened at $8.00 on Thursday. Freshworks Inc. has a one year low of $6.79 and a one year high of $16.48. The business’s fifty day moving average is $9.62 and its 200 day moving average is $11.26. The stock has a market capitalization of $2.26 billion, a PE ratio of 12.50 and a beta of 0.93.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, February 10th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $222.74 million for the quarter, compared to analysts’ expectations of $218.76 million. Freshworks had a net margin of 21.90% and a return on equity of 4.69%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. Freshworks has set its Q1 2026 guidance at 0.100-0.120 EPS and its FY 2026 guidance at 0.550-0.570 EPS. As a group, sell-side analysts expect that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Insider Transactions at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 32,577 shares of Freshworks stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $8.45, for a total value of $275,275.65. Following the completion of the sale, the insider owned 1,127,723 shares of the company’s stock, valued at approximately $9,529,259.35. The trade was a 2.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.17% of the company’s stock.

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.