Forge Global Holdings, Inc. (NYSE:FRGE) CFO James Nevin Buys 1,950 Shares

Key Points

• CFO James Nevin of Forge Global Holdings, Inc. purchased 1,950 shares at an average price of $22.65, raising his total ownership to 24,124 shares, valued at approximately $546,408.60.
• The company's stock price dropped 7.4% to $21.83 during trading, with a market capitalization of $269.10 million, and it has fluctuated between a one-year low of $6.60 and a high of $24.90.
• Forge Global reported a quarterly earnings per share of $-0.99, surpassing analysts' expectations, and generated revenues of $27.74 million for the quarter, exceeding estimates of $21 million.

Forge Global Holdings, Inc. (NYSE:FRGE - Get Free Report) CFO James Nevin bought 1,950 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was purchased at an average price 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 of the company's stock, valued at approximately $546,408.60. This trade represents a 8.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

James Nevin also recently made the following trade(s):

• On Friday, May 16th, James Nevin purchased 3,508 shares of Forge Global stock. The shares were bought at an average price of $13.93 per share, for a total transaction of $48,866.44.

Forge Global Stock Up 2.6%

Shares of NYSE:FRGE traded up $0.56 during midday trading on Monday, reaching $22.40. 13,121 shares of the company traded hands, compared to its average volume of 101,779. Forge Global Holdings, Inc. has a 12 month low of $6.60 and a 12 month high of $24.90. The firm's fifty day moving average price is $17.81 and its two-hundred day moving average price is $13.93. The firm has a market capitalization of $276.20 million, a price-to-earnings ratio of -4.23 and a beta of 2.30.

Forge Global (NYSE:FRGE - Get Free Report) last released 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 return on equity of 27.50% and a negative net margin of 73.62%. Analysts forecast that Forge Global Holdings, Inc. will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FRGE shares. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $18.00 price objective on shares of Forge Global in a research note on Wednesday, May 14th. Wall Street Zen cut Forge Global from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. UBS Group upped 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, August 6th. Finally, Piper Sandler raised Forge Global from a "neutral" rating to an "overweight" rating and set a $30.00 target price on the stock in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.50.

Hedge Funds Weigh In On Forge Global

Institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. purchased a new position in Forge Global in the fourth quarter worth about $27,000. JPMorgan Chase & Co. increased its position in shares of Forge Global by 341.0% during the fourth quarter. JPMorgan Chase & Co. now owns 381,805 shares of the company's stock worth $355,000 after purchasing an additional 295,235 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Forge Global by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,651,436 shares of the company's stock valued at $2,469,000 after buying an additional 31,550 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Forge Global by 0.6% in the fourth 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. Finally, Renaissance Technologies LLC lifted its stake in Forge Global by 325.2% in the 4th quarter. Renaissance Technologies LLC now owns 456,323 shares of the company's stock valued at $425,000 after buying an additional 348,997 shares in the last quarter. 40.67% of the stock is owned by institutional investors.

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.