XTX Topco Ltd Sells 29,721 Shares of Forge Global Holdings, Inc. $FRGE

Key Points

• XTX Topco Ltd reduced its stake in Forge Global Holdings by 35.1%, owning 54,878 shares after selling 29,721 shares during the quarter, with a value of approximately $31,000.
• Several hedge funds have significantly increased their positions in Forge Global, with Jane Street Group raising its stake by 355.4% in the fourth quarter.
• Forge Global stock is currently trading at $21.10, with a 52-week range between $6.60 and $24.90, and recent earnings exceeded expectations with revenue of $27.74 million.

XTX Topco Ltd cut its holdings in shares of Forge Global Holdings, Inc. (NYSE:FRGE - Free Report) by 35.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,878 shares of the company's stock after selling 29,721 shares during the period. XTX Topco Ltd owned about 0.44% of Forge Global worth $31,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Forge Global by 1.2% in 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 period. Wells Fargo & Company MN lifted its position in shares of Forge Global by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,583,455 shares of the company's stock worth $2,405,000 after purchasing an additional 15,695 shares during the period. Northern Trust Corp lifted its position in shares of Forge Global by 14.6% in the 4th quarter. Northern Trust Corp now owns 1,069,884 shares of the company's stock worth $996,000 after purchasing an additional 135,946 shares during the period. Jane Street Group LLC lifted its position in shares of Forge Global by 355.4% in the 4th quarter. Jane Street Group LLC now owns 685,172 shares of the company's stock worth $638,000 after purchasing an additional 534,717 shares during the period. Finally, Renaissance Technologies LLC lifted 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 period. Institutional investors and hedge funds own 40.67% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FRGE. JPMorgan Chase & Co. restated a "neutral" rating and issued a $18.00 price target on shares of Forge Global in a research report on Wednesday, May 14th. Wall Street Zen downgraded shares of Forge Global from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. UBS Group boosted their price target on shares of Forge Global from $30.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Piper Sandler upgraded shares of Forge Global from a "neutral" rating to an "overweight" rating and set a $30.00 price objective for the company in a research note on Monday, May 12th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $35.50.

Forge Global Stock Down 3.1%

FRGE stock traded down $0.6010 during midday trading on Thursday, reaching $19.0690. 92,741 shares of the company's stock traded hands, compared to its average volume of 137,452. The company has a market cap of $259.34 million, a price-to-earnings ratio of -3.58 and a beta of 2.30. The firm's fifty day moving average price is $18.88 and its 200-day moving average price is $14.48. 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) EPS for the quarter, beating analysts' consensus estimates 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 net margin of 73.62% and a negative return on equity of 28.21%. Analysts forecast that Forge Global Holdings, Inc. will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In other Forge Global news, CFO James Nevin purchased 1,950 shares of the firm's stock in a transaction on 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 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 filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kelly Rodriques sold 3,530 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were 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 of the company's stock, valued at $11,280,663.72. This trade represents a 0.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,936 shares of company stock valued at $253,306 in the last 90 days. 4.50% of the stock is currently owned by company insiders.

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.