Forge Global Holdings, Inc. $FRGE Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management increased its stake in Forge Global Holdings by 13.1%, now owning approximately 7.94% of the company's shares, valued at about $560,000.
• Insider trading activity included CEO Kelly Rodriques selling 7,470 shares and CFO James Nevin acquiring 1,950 shares, reflecting varying confidence levels among executives.
• Analysts have mixed ratings on Forge Global, with the stock receiving target prices between $18.00 and $34.00, and a consensus rating of "Moderate Buy".

Charles Schwab Investment Management Inc. increased its stake in shares of Forge Global Holdings, Inc. (NYSE:FRGE - Free Report) by 13.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 995,979 shares of the company's stock after acquiring an additional 115,536 shares during the period. Charles Schwab Investment Management Inc. owned approximately 7.94% of Forge Global worth $560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northern Trust Corp lifted its position in Forge Global by 14.6% during the 4th quarter. Northern Trust Corp now owns 1,069,884 shares of the company's stock worth $996,000 after acquiring an additional 135,946 shares in the last quarter. Jane Street Group LLC lifted its position in Forge Global by 355.4% during the 4th quarter. Jane Street Group LLC now owns 685,172 shares of the company's stock worth $638,000 after acquiring an additional 534,717 shares in the last quarter. AWM Investment Company Inc. acquired a new position in Forge Global during the 4th quarter worth approximately $409,000. Deutsche Bank AG lifted its position in Forge Global by 438.1% during the 4th quarter. Deutsche Bank AG now owns 245,790 shares of the company's stock worth $229,000 after acquiring an additional 200,110 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in Forge Global by 9.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 185,010 shares of the company's stock worth $172,000 after acquiring an additional 16,485 shares in the last quarter. 40.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Kelly Rodriques sold 7,470 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $20.55, for a total transaction of $153,508.50. Following the completion of the sale, the chief executive officer owned 575,862 shares in the company, valued at $11,833,964.10. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James Nevin acquired 1,950 shares of Forge Global stock in a transaction on Wednesday, August 6th. The stock was purchased at an average price of $22.65 per share, with a total value of $44,167.50. Following the transaction, the chief financial officer directly owned 24,124 shares in the company, valued at approximately $546,408.60. This trade represents a 8.79% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 11,810 shares of company stock worth $236,393. Insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

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

Forge Global Stock Performance

NYSE:FRGE opened at $17.90 on Thursday. Forge Global Holdings, Inc. has a 1 year low of $6.60 and a 1 year high of $24.90. The stock has a market cap of $243.43 million, a price-to-earnings ratio of -3.36 and a beta of 2.28. The business has a fifty day moving average of $19.16 and a 200-day moving average of $14.89.

Forge Global (NYSE:FRGE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.17. The business had revenue of $27.74 million during 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%. On average, equities research analysts predict 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.

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