Nuveen LLC Takes $231,000 Position in Forge Global Holdings, Inc. $FRGE

Key Points

• Nuveen LLC acquired a stake in Forge Global Holdings, Inc. for approximately $231,000, purchasing 411,336 shares, which represents about 3.34% of the company.
• Research analysts have differing views on Forge Global, with ratings ranging from "buy" to "sell", and a consensus target price set at $35.50.
• The company's latest earnings report showed a revenue of $27.74 million, exceeding expectations, though it reported a loss of ($0.99) EPS.

Nuveen LLC bought a new stake in Forge Global Holdings, Inc. (NYSE:FRGE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 411,336 shares of the company's stock, valued at approximately $231,000. Nuveen LLC owned approximately 3.34% of Forge Global as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC lifted its position in shares of Forge Global by 16.7% in the fourth quarter. Barclays PLC now owns 175,272 shares of the company's stock worth $164,000 after purchasing an additional 25,031 shares in the last quarter. Northern Trust Corp grew its holdings in Forge Global by 14.6% during 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 during the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of Forge Global by 9.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 185,010 shares of the company's stock valued at $172,000 after purchasing an additional 16,485 shares during the period. Jane Street Group LLC lifted its stake 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 worth $638,000 after buying an additional 534,717 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Forge Global by 10.2% during the 4th quarter. Bank of America Corp DE now owns 143,525 shares of the company's stock worth $133,000 after buying an additional 13,281 shares during the period. Hedge funds and other institutional investors own 40.67% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on FRGE shares. 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 report on Wednesday, August 6th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $18.00 price target on shares of Forge Global in a research report on Wednesday, May 14th. Finally, Wall Street Zen cut Forge Global from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $35.50.

Insider Buying and Selling

In other news, CFO James Nevin bought 1,950 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $22.65 per share, for a total transaction 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 $546,408.60. This trade represents a 8.79% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kelly Rodriques sold 3,530 shares of Forge Global stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $19.71, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,810 shares of company stock worth $236,393. 4.50% of the stock is currently owned by company insiders.

Forge Global Stock Performance

Shares of FRGE traded up $0.72 during trading hours on Thursday, reaching $17.74. 63,541 shares of the company traded hands, compared to its average volume of 85,091. The stock's fifty day moving average is $19.02 and its 200 day moving average is $15.03. 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 $241.26 million, a P/E ratio of -3.33 and a beta of 2.28.

Forge Global (NYSE:FRGE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.99) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.17. The firm 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%. On average, equities research analysts predict that Forge Global Holdings, Inc. will post -0.37 EPS for the current year.

About Forge Global

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.