Victory Capital Management Inc. Trims Stock Position in Freshworks Inc. $FRSH

Victory Capital Management Inc. trimmed its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 15.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 875,758 shares of the company’s stock after selling 157,841 shares during the quarter. Victory Capital Management Inc.’s holdings in Freshworks were worth $10,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FRSH. Eminence Capital LP grew its position in shares of Freshworks by 39.4% during the 2nd quarter. Eminence Capital LP now owns 7,334,601 shares of the company’s stock valued at $109,359,000 after acquiring an additional 2,074,641 shares during the period. Geode Capital Management LLC raised its holdings in 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 purchasing an additional 75,688 shares during the period. State Street Corp raised its holdings in Freshworks by 2.1% in the 2nd quarter. State Street Corp now owns 4,850,487 shares of the company’s stock worth $72,321,000 after purchasing an additional 101,132 shares during the period. Franklin Resources Inc. lifted its position in Freshworks by 15.1% during the second quarter. Franklin Resources Inc. now owns 2,540,275 shares of the company’s stock valued at $37,875,000 after purchasing an additional 333,137 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Freshworks by 35.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,225,056 shares of the company’s stock valued at $31,396,000 after purchasing an additional 578,628 shares during the period. 75.58% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Mika Yamamoto sold 32,577 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $8.45, for a total value of $275,275.65. Following the sale, the insider directly owned 1,127,723 shares in the company, valued at approximately $9,529,259.35. The trade was a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.17% of the company’s stock.

Freshworks Price Performance

Freshworks stock opened at $8.00 on Thursday. Freshworks Inc. has a 1 year low of $6.79 and a 1 year high of $16.48. The firm’s 50 day moving average price is $9.62 and its 200-day moving average price is $11.26. The stock has a market cap of $2.26 billion, a P/E ratio of 12.50 and a beta of 0.93.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 10th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $222.74 million during the quarter, compared to analyst estimates of $218.76 million. Freshworks had a net margin of 21.90% and a return on equity of 4.69%. Freshworks’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share. 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, equities analysts expect that Freshworks Inc. will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

FRSH has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Freshworks in a research note on Wednesday, February 11th. Robert W. Baird set a $10.00 target price on shares of Freshworks in a report on Wednesday, February 11th. Zacks Research cut shares of Freshworks from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Wall Street Zen lowered shares of Freshworks from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Jefferies Financial Group downgraded shares of Freshworks from a “buy” rating to a “hold” rating and decreased their price objective for the company from $20.00 to $8.00 in a research report on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating, eight have issued 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 price target of $12.92.

Freshworks 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.