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

Other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC boosted its position in Forge Global by 51.3% during the fourth 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 during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Forge Global during the fourth quarter valued at about $32,000. Focus Partners Wealth acquired a new position in shares of Forge Global during the fourth quarter valued at about $37,000. Bank of America Corp DE raised its holdings in shares of Forge Global by 10.2% during the fourth quarter. Bank of America Corp DE now owns 143,525 shares of the company's stock valued at $133,000 after purchasing an additional 13,281 shares during the period. Finally, Summit Trail Advisors LLC raised its holdings in shares of Forge Global by 19.7% during the first quarter. Summit Trail Advisors LLC now owns 157,666 shares of the company's stock valued at $89,000 after purchasing an additional 26,000 shares during the period. Institutional investors own 40.67% of the company's stock.

Forge Global Stock Down 2.7%

FRGE stock traded down $0.53 during trading on Thursday, reaching $19.14. The stock had a trading volume of 12,478 shares, compared to its average volume of 101,679. Forge Global Holdings, Inc. has a one year low of $6.60 and a one year high of $24.90. The company's 50 day moving average is $18.81 and its two-hundred day moving average is $14.43. The company has a market capitalization of $260.30 million, a price-to-earnings ratio of -3.57 and a beta of 2.30.

Forge Global (NYSE:FRGE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.99) earnings per share (EPS) 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 business had revenue of $27.74 million during the quarter, compared to the consensus estimate of $21.00 million. As a group, research analysts predict that Forge Global Holdings, Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Forge Global from a "hold" rating to a "sell" rating in a report on Friday, July 18th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $18.00 price objective on shares of Forge Global in a report on Wednesday, May 14th. UBS Group upped their price objective 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. Finally, Piper Sandler upgraded shares of Forge Global from a "neutral" rating to an "overweight" rating and set a $30.00 price objective on the stock in a report on Monday, May 12th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Forge Global has a consensus rating of "Moderate Buy" and an average target price of $35.50.

Insider Buying and Selling

In related news, CEO Kelly Rodriques sold 7,470 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $20.55, for a total value of $153,508.50. Following the completion of the transaction, the chief executive officer directly owned 575,862 shares of the company's stock, valued at approximately $11,833,964.10. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Nevin acquired 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, with a total value of $44,167.50. Following the completion of the acquisition, the chief financial officer owned 24,124 shares in the company, valued at $546,408.60. This trade represents a 8.79% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 12,936 shares of company stock valued at $253,306 over the last three months. Insiders own 4.50% of the company's stock.

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.