US Bancorp DE Decreases Stake in Forge Global Holdings, Inc. (NYSE:FRGE)

Key Points

• US Bancorp DE reduced its stake in Forge Global Holdings by 3.2% in Q1, now owning 3,584,701 shares valued at approximately $2,015,000.
• Analysts have mixed views on FRGE, with Piper Sandler upgrading the stock to "overweight" with a $30 target, while Wall Street Zen downgraded it to "sell."
• Forge Global reported earnings of ($0.99) per share for the last quarter, surpassing expectations, and had a revenue of $27.74 million, exceeding the consensus of $21 million.

US Bancorp DE trimmed its holdings in shares of Forge Global Holdings, Inc. (NYSE:FRGE - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,584,701 shares of the company's stock after selling 120,000 shares during the quarter. US Bancorp DE owned 28.57% of Forge Global worth $2,015,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in Forge Global by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,651,436 shares of the company's stock worth $2,469,000 after purchasing an additional 31,550 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Forge Global by 0.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,583,455 shares of the company's stock worth $2,405,000 after buying an additional 15,695 shares during the last quarter. Northern Trust Corp raised its holdings in Forge Global by 14.6% in the fourth quarter. Northern Trust Corp now owns 1,069,884 shares of the company's stock valued at $996,000 after acquiring an additional 135,946 shares in the last quarter. Jane Street Group LLC boosted its stake in Forge Global by 355.4% during the 4th quarter. Jane Street Group LLC now owns 685,172 shares of the company's stock valued at $638,000 after acquiring an additional 534,717 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Forge Global by 325.2% in the 4th quarter. Renaissance Technologies LLC now owns 456,323 shares of the company's stock worth $425,000 after purchasing an additional 348,997 shares during the last quarter. Institutional investors and hedge funds own 40.67% of the company's stock.

Wall Street Analyst Weigh In

FRGE has been the topic of several research analyst reports. Piper Sandler raised shares of Forge Global from a "neutral" rating to an "overweight" rating and set a $30.00 price target on the stock in a research report on Monday, May 12th. Wall Street Zen lowered Forge Global from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.00 price target on shares of Forge Global in a report on Wednesday, May 14th. Finally, UBS Group raised their price objective on Forge Global from $30.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $35.50.

Insider Transactions at Forge Global

In other news, CFO James Nevin purchased 1,950 shares of the stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $22.65 per share, for a total transaction of $44,167.50. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 2,436 shares of company stock valued at $37,721 in the last quarter. Company insiders own 4.50% of the company's stock.

Forge Global Stock Down 7.4%

Shares of FRGE stock opened at $21.83 on Friday. The company has a market cap of $269.10 million, a P/E ratio of -4.10 and a beta of 2.30. The business has a 50 day moving average of $17.65 and a two-hundred day moving average of $13.82. Forge Global Holdings, Inc. has a 52 week low of $6.60 and a 52 week high of $24.90.

Forge Global (NYSE:FRGE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.17. The business had revenue of $27.74 million for the quarter, compared to the consensus estimate of $21.00 million. Forge Global had a negative return on equity of 27.50% and a negative net margin of 73.62%. Analysts expect that Forge Global Holdings, Inc. will post -0.37 EPS 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.

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