Summit Trail Advisors LLC Has $89,000 Holdings in Forge Global Holdings, Inc. (NYSE:FRGE)

Summit Trail Advisors LLC grew its stake in Forge Global Holdings, Inc. (NYSE:FRGE - Free Report) by 19.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,666 shares of the company's stock after purchasing an additional 26,000 shares during the period. Summit Trail Advisors LLC owned about 1.26% of Forge Global worth $89,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. ProShare Advisors LLC boosted its position in shares of 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. Bank of America Corp DE boosted its position 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 valued at $133,000 after acquiring an additional 13,281 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Forge Global by 0.6% during the 4th 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 during the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Forge Global by 9.8% during the 4th 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 last quarter. Finally, Barclays PLC lifted its holdings in Forge Global by 16.7% during the 4th quarter. Barclays PLC now owns 175,272 shares of the company's stock valued at $164,000 after purchasing an additional 25,031 shares during the last quarter. 40.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FRGE has been the subject of several analyst reports. JMP Securities cut their price target on shares of Forge Global from $75.00 to $60.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. Wall Street Zen raised shares of Forge Global from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Piper Sandler raised shares of Forge Global from a "neutral" rating to an "overweight" rating and set a $30.00 price target for the company in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $18.00 price target on shares of Forge Global in a report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Forge Global currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.25.

Forge Global Trading Down 1.2%

Shares of FRGE traded down $0.22 on Monday, reaching $18.06. 68,718 shares of the company's stock were exchanged, compared to its average volume of 64,896. The stock has a market capitalization of $222.68 million, a P/E ratio of -3.48 and a beta of 2.29. The business has a 50 day moving average price of $15.61 and a two-hundred day moving average price of $12.87. Forge Global Holdings, Inc. has a 12 month low of $6.60 and a 12 month high of $24.45.

Forge Global (NYSE:FRGE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.29) earnings per share for the quarter, topping analysts' consensus estimates of ($1.34) by $0.05. The business had revenue of $25.30 million during the quarter, compared to the consensus estimate of $21.50 million. Forge Global had a negative net margin of 74.82% and a negative return on equity of 27.44%. Equities research analysts predict that Forge Global Holdings, Inc. will post -0.37 EPS for the current year.

Insider Buying and Selling

In other news, CFO James Nevin acquired 3,508 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average price of $13.93 per share, for a total transaction of $48,866.44. Following the completion of the acquisition, the chief financial officer owned 3,508 shares in the company, valued at $48,866.44. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO Jennifer Phillips sold 16,150 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $15.11, for a total transaction of $244,026.50. Following the transaction, the executive owned 22,226 shares of the company's stock, valued at approximately $335,834.86. This represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,586 shares of company stock valued at $281,747. 4.50% of the stock is currently owned by insiders.

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.