Whetstone Capital Advisors LLC Acquires Shares of 371,008 Forge Global Holdings, Inc. $FRGE

Key Points

• Whetstone Capital Advisors LLC has acquired 371,008 shares of Forge Global Holdings, Inc. for approximately $209,000, marking it as their 26th largest holding.
• Multiple institutional investors, including Jane Street Group LLC and JPMorgan Chase & Co., have significantly increased their stakes in Forge Global, contributing to institutional ownership now at 40.67%.
• Recent analyst ratings for Forge Global include upgrades from Piper Sandler to "overweight" and UBS Group raising their price target, contributing to an average target price of $35.50.

Whetstone Capital Advisors LLC bought a new stake in Forge Global Holdings, Inc. (NYSE:FRGE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 371,008 shares of the company's stock, valued at approximately $209,000. Forge Global accounts for about 0.1% of Whetstone Capital Advisors LLC's portfolio, making the stock its 26th largest position. Whetstone Capital Advisors LLC owned about 3.01% of Forge Global as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Forge Global by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,651,436 shares of the company's stock valued at $2,469,000 after purchasing an additional 31,550 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Forge Global by 0.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,583,455 shares of the company's stock valued at $2,405,000 after purchasing an additional 15,695 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Forge Global by 14.6% in the fourth quarter. Northern Trust Corp now owns 1,069,884 shares of the company's stock valued at $996,000 after purchasing an additional 135,946 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Forge Global by 13.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 995,979 shares of the company's stock valued at $560,000 after purchasing an additional 115,536 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Forge Global by 355.4% in the fourth quarter. Jane Street Group LLC now owns 685,172 shares of the company's stock valued at $638,000 after purchasing an additional 534,717 shares in the last quarter. 40.67% of the stock is currently owned by institutional investors.

Forge Global Stock Performance

FRGE traded up $0.3830 on Friday, hitting $19.4930. 204,756 shares of the company were exchanged, compared to its average volume of 139,657. Forge Global Holdings, Inc. has a 12 month low of $6.60 and a 12 month high of $24.90. The company has a market cap of $265.10 million, a PE ratio of -3.66 and a beta of 2.30. The stock's fifty day moving average is $18.95 and its 200-day moving average is $14.56.

Forge Global (NYSE:FRGE - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.17. The business had revenue of $27.74 million for the quarter, compared to analyst estimates of $21.00 million. Forge Global had a negative return on equity of 28.21% and a negative net margin of 73.62%. As a group, equities research analysts expect that Forge Global Holdings, Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FRGE. JPMorgan Chase & Co. restated a "neutral" rating and issued a $18.00 price target on shares of Forge Global in a report on Wednesday, May 14th. Wall Street Zen lowered Forge Global from a "hold" rating to a "sell" rating in a report on Friday, July 18th. UBS Group upped their target price on Forge Global from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Piper Sandler upgraded Forge Global from a "neutral" rating to an "overweight" rating and set a $30.00 target price on the stock in a report on Monday, May 12th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.50.

Insider Activity at Forge Global

In other Forge Global news, CEO Kelly Rodriques sold 3,530 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $19.71, for a total value of $69,576.30. Following the sale, the chief executive officer owned 572,332 shares in the company, valued at $11,280,663.72. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James Nevin acquired 1,950 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of $22.65 per share, for a total transaction of $44,167.50. Following the purchase, the chief financial officer directly owned 24,124 shares of the company's stock, valued at approximately $546,408.60. This trade represents a 8.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 12,936 shares of company stock worth $253,306 in the last 90 days. Corporate insiders own 4.50% of the company's stock.

Forge Global Profile

Forge Global Holdings, Inc operates a financial services platform in California. The company's platform solutions include trading solutions, a platform that connects investors with private company stockholders and enables them to facilitate private share transactions; and custody solutions, a non-depository trust company that enables clients to securely custody and manage assets through an online portal.