BlackRock Discloses 6.9% Passive Stake in Freshworks (FRSH)
Ticker: FRSH · Form: SC 13G · Filed: Jan 26, 2024 · CIK: 1544522
| Field | Detail |
|---|---|
| Company | Freshworks Inc. (FRSH) |
| Form Type | SC 13G |
| Filed Date | Jan 26, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, stake-disclosure
TL;DR
**BlackRock just revealed a 6.9% stake in Freshworks, signaling institutional confidence.**
AI Summary
BlackRock Inc., a massive investment firm, reported on January 26, 2024, that it holds a significant stake in Freshworks Inc. (FRSH) as of December 31, 2023. This filing indicates that BlackRock now beneficially owns 20,410,147 shares of Freshworks' Class A Common Stock, representing 6.9% of the company. This matters to investors because it shows a major institutional investor has a substantial, passive position in Freshworks, which can signal confidence in the company's long-term prospects.
Why It Matters
A large institutional investor like BlackRock holding a significant stake can provide a vote of confidence, potentially attracting other investors and stabilizing the stock price.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institution, which generally reduces volatility rather than increasing risk.
Analyst Insight
A smart investor would view this as a positive signal, suggesting that a large, sophisticated investor sees long-term value in Freshworks. This could prompt further research into Freshworks' fundamentals, as BlackRock's passive stake implies a belief in the company's stability and growth potential without seeking active control.
Key Numbers
- 20,410,147 — Shares Owned (Total Class A Common Stock shares of Freshworks Inc. beneficially owned by BlackRock Inc.)
- 6.9% — Ownership Percentage (Percentage of Freshworks Inc.'s Class A Common Stock beneficially owned by BlackRock Inc.)
- December 31, 2023 — Reporting Date (The date as of which BlackRock's ownership stake is being reported.)
Key Players & Entities
- BlackRock Inc. (company) — filer, institutional investor
- Freshworks Inc. (company) — subject company, issuer of stock
- 20,410,147 (dollar_amount) — number of shares beneficially owned by BlackRock
- 6.9% (dollar_amount) — percentage of Freshworks' Class A Common Stock owned by BlackRock
- December 31, 2023 (person) — date of event requiring the filing
- January 26, 2024 (person) — filing date
Forward-Looking Statements
- BlackRock will maintain its passive stake in Freshworks for the foreseeable future. (BlackRock Inc.) — high confidence, target: Q4 2024
FAQ
Who filed this SC 13G statement?
This SC 13G statement was filed by BlackRock Inc., a major institutional investment manager, as indicated in the 'FILED BY' section of the filing.
What company is the subject of this filing?
The subject company of this filing is Freshworks Inc., identified by its CIK 0001544522 and name in the 'SUBJECT COMPANY' section.
What type of securities does BlackRock Inc. own in Freshworks Inc.?
BlackRock Inc. owns Class A Common Stock of Freshworks Inc., as stated under the 'Title of Class of Securities' section of the filing.
As of what date is BlackRock Inc.'s ownership stake being reported?
BlackRock Inc.'s ownership stake is being reported as of December 31, 2023, which is listed as the 'Date of Event Which Requires Filing of this Statement'.
What is the CUSIP number for Freshworks Inc.'s Class A Common Stock?
The CUSIP number for Freshworks Inc.'s Class A Common Stock is 358054104, as provided in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 26, 2024 by December 31, 2023 regarding Freshworks Inc. (FRSH).