Alyeska Investment Group L.P. Invests $1.12 Million in Forge Global Holdings, Inc. $FRGE

Key Points

• Alyeska Investment Group L.P. acquired a stake of approximately $1.12 million in Forge Global Holdings, Inc., owning about 16.15% of the company by the end of the last quarter.
• Multiple hedge funds, including ProShare Advisors LLC and D. E. Shaw & Co., have adjusted their holdings, indicating growing interest in Forge Global.
• Forge Global reported a revenue of $27.74 million last quarter, exceeding analyst estimates, and is projected to post -0.37 earnings per share for the current year.

Alyeska Investment Group L.P. acquired a new position in shares of Forge Global Holdings, Inc. (NYSE:FRGE - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,990,391 shares of the company's stock, valued at approximately $1,119,000. Alyeska Investment Group L.P. owned about 16.15% of Forge Global at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in FRGE. ProShare Advisors LLC increased its position in shares of Forge Global by 51.3% during the fourth quarter. ProShare Advisors LLC now owns 32,807 shares of the company's stock worth $31,000 after purchasing an additional 11,126 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in Forge Global during the 4th quarter worth $32,000. Focus Partners Wealth acquired a new position in Forge Global during the 4th quarter valued at about $37,000. Summit Trail Advisors LLC raised its stake in Forge Global by 19.7% in the first quarter. Summit Trail Advisors LLC now owns 157,666 shares of the company's stock valued at $89,000 after buying an additional 26,000 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Forge Global by 10.2% in the fourth quarter. Bank of America Corp DE now owns 143,525 shares of the company's stock valued at $133,000 after buying an additional 13,281 shares during the last quarter. Institutional investors own 40.67% of the company's stock.

Insider Buying and Selling at Forge Global

In other Forge Global news, CFO James Nevin bought 1,950 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $22.65 per share, for a total transaction of $44,167.50. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kelly Rodriques sold 7,470 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $20.55, for a total value of $153,508.50. Following the sale, the chief executive officer directly owned 575,862 shares in the company, valued at $11,833,964.10. This represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,810 shares of company stock valued at $236,393. 4.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FRGE shares. Wall Street Zen lowered Forge Global from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. UBS Group lifted their target price on shares of Forge Global from $30.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $18.00 target price on shares of Forge Global in a research report on Wednesday, May 14th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $35.50.

Forge Global Stock Performance

NYSE FRGE traded up $0.72 during trading hours on Thursday, reaching $17.74. The stock had a trading volume of 63,541 shares, compared to its average volume of 85,091. Forge Global Holdings, Inc. has a 52-week low of $6.60 and a 52-week high of $24.90. The stock has a fifty day moving average of $19.02 and a 200 day moving average of $15.03. The stock has a market cap of $241.26 million, a P/E ratio of -3.33 and a beta of 2.28.

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

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.