AWM Investment Company Inc. Increases Position in Forge Global Holdings, Inc. $FRGE

Key Points

• AWM Investment Company Inc. significantly increased its holdings in Forge Global Holdings, Inc. by 793.9%, now owning approximately 31.87% of the company valued at $2.2 million.
• Wall Street analysts have mixed ratings for Forge Global, with price targets ranging from $18.00 to $34.00, reflecting a consensus rating of "Moderate Buy."
• The company reported quarterly earnings of ($0.99) EPS, surpassing estimates, with a revenue of $27.74 million against expected $21 million.

AWM Investment Company Inc. raised its holdings in shares of Forge Global Holdings, Inc. (NYSE:FRGE - Free Report) by 793.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,928,927 shares of the company's stock after purchasing an additional 3,489,424 shares during the quarter. AWM Investment Company Inc. owned 31.87% of Forge Global worth $2,208,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. ProShare Advisors LLC raised its stake in Forge Global by 51.3% during the 4th quarter. ProShare Advisors LLC now owns 32,807 shares of the company's stock valued at $31,000 after acquiring an additional 11,126 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Forge Global in the 4th quarter worth $32,000. Focus Partners Wealth purchased a new position in shares of Forge Global during the fourth quarter valued at $37,000. Summit Trail Advisors LLC grew its holdings in shares of Forge Global by 19.7% during 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 in the last quarter. Finally, Bank of America Corp DE grew 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 purchasing an additional 13,281 shares in the last quarter. Institutional investors own 40.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen cut Forge Global from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Piper Sandler upgraded Forge Global from a "neutral" rating to an "overweight" rating and set a $30.00 price target on the stock in a research note on Monday, May 12th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.00 price objective on shares of Forge Global in a research note on Wednesday, May 14th. Finally, UBS Group upped their price objective on Forge Global from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average 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 business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $19.71, for a total value of $69,576.30. Following the completion of the sale, the chief executive officer directly owned 572,332 shares of the company's stock, valued at $11,280,663.72. The trade was a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James Nevin acquired 1,950 shares of the stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average cost of $22.65 per share, with a total value of $44,167.50. Following the completion of the purchase, the chief financial officer owned 24,124 shares of the company's stock, valued at approximately $546,408.60. The trade was a 8.79% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 11,810 shares of company stock valued at $236,393. 4.50% of the stock is currently owned by company insiders.

Forge Global Stock Performance

Shares of NYSE FRGE traded down $0.42 during midday trading on Friday, reaching $17.27. The company's stock had a trading volume of 78,056 shares, compared to its average volume of 92,444. Forge Global Holdings, Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $24.90. The business's 50 day moving average price is $19.10 and its two-hundred day moving average price is $14.94. The company has a market cap of $234.87 million, a P/E ratio of -3.24 and a beta of 2.28.

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