Forge Global Holdings, Inc. (NYSE:FRGE) CFO James Nevin Acquires 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 company's stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average price of $22.65 per share, for a total transaction of $44,167.50. Following the acquisition, the chief financial officer directly owned 24,124 shares of the company's stock, valued at $546,408.60. This represents a 8.79% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, May 16th, James Nevin bought 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 Trading Down 7.4%

NYSE:FRGE traded down $1.75 during trading hours on Thursday, hitting $21.83. 87,530 shares of the company were exchanged, compared to its average volume of 102,275. The stock has a market capitalization of $269.10 million, a price-to-earnings ratio of -4.10 and a beta of 2.30. Forge Global Holdings, Inc. has a one year low of $6.60 and a one year high of $24.90. The company has a fifty day simple moving average of $17.32 and a 200 day simple moving average of $13.69.

Forge Global (NYSE:FRGE - Get Free Report) last issued its quarterly 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 return on equity of 27.50% and a negative net margin of 73.62%. The firm had revenue of $27.74 million during the quarter, compared to the consensus estimate of $21.00 million. Equities research analysts predict that Forge Global Holdings, Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Trading of Forge Global

Large investors have recently bought and sold shares of the business. Prudential Financial Inc. acquired a new position in Forge Global during the 4th quarter valued at about $27,000. ProShare Advisors LLC boosted its stake in Forge Global by 51.3% during the 4th quarter. ProShare Advisors LLC now owns 32,807 shares of the company's stock valued at $31,000 after purchasing an additional 11,126 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Forge Global during the 4th quarter valued at about $32,000. Focus Partners Wealth acquired a new position in Forge Global during the 4th quarter valued at about $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Forge Global by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company's stock valued at $39,000 after purchasing an additional 2,964 shares during the last quarter. 40.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. restated a "neutral" rating and issued 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 target price on Forge Global from $30.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Piper Sandler upgraded Forge Global from a "neutral" rating to an "overweight" rating and set a $30.00 price target for the company in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Forge Global presently has a consensus 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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