Valeo Financial Advisors LLC Acquires New Holdings in Forge Global Holdings, Inc. $FRGE

Key Points

• Valeo Financial Advisors LLC has acquired a new stake in Forge Global Holdings, Inc. by purchasing 38,251 shares valued at approximately $728,000 during Q2, now owning 0.31% of the company.
• In Q1, AWM Investment Company Inc. increased its holdings in Forge Global by 793.9%, owning 3.93 million shares valued at $2.21 million.
• Forge Global reported earnings of ($0.99) per share, beating analyst estimates, with revenue of $27.74 million compared to expectations of $21.00 million.

Valeo Financial Advisors LLC acquired a new stake in shares of Forge Global Holdings, Inc. (NYSE:FRGE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,251 shares of the company's stock, valued at approximately $728,000. Valeo Financial Advisors LLC owned 0.31% of Forge Global as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AWM Investment Company Inc. increased its holdings in Forge Global by 793.9% during the first quarter. AWM Investment Company Inc. now owns 3,928,927 shares of the company's stock valued at $2,208,000 after buying an additional 3,489,424 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in Forge Global during the first quarter valued at approximately $1,119,000. Charles Schwab Investment Management Inc. increased its holdings in Forge Global by 13.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 995,979 shares of the company's stock valued at $560,000 after buying an additional 115,536 shares during the last quarter. Nuveen LLC purchased a new stake in Forge Global during the first quarter valued at approximately $231,000. Finally, Whetstone Capital Advisors LLC purchased a new stake in Forge Global during the first quarter valued at approximately $209,000. 40.67% of the stock is owned by hedge funds and other institutional investors.

Forge Global Price Performance

Shares of NYSE FRGE opened at $16.58 on Thursday. The firm has a fifty day moving average price of $18.68 and a 200-day moving average price of $15.78. The stock has a market cap of $225.49 million, a PE ratio of -3.11 and a beta of 2.25. Forge Global Holdings, Inc. has a 1 year low of $6.60 and a 1 year high of $24.90.

Forge Global (NYSE:FRGE - Get Free Report) last issued 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. Forge Global had a negative net margin of 73.62% and a negative return on equity of 28.21%. The firm had revenue of $27.74 million during the quarter, compared to analyst estimates of $21.00 million. On average, research analysts expect that Forge Global Holdings, Inc. will post -0.37 EPS for the current year.

Insiders Place Their Bets

In related news, CFO James Nevin bought 1,950 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased 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 in the company, valued at $546,408.60. The trade was a 8.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kelly Rodriques sold 7,470 shares of the company's stock in a transaction 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 transaction, the chief executive officer owned 575,862 shares of the company's stock, valued at approximately $11,833,964.10. This represents a 1.28% decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on FRGE shares. Wall Street Zen cut shares of Forge Global from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Forge Global in a report on Wednesday. Finally, UBS Group upped their target price on shares of Forge Global from $30.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $35.50.

Forge Global Company 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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