Forge Global Holdings, Inc. (NYSE:FRGE) CRO Jennifer Phillips Sells 810 Shares

Forge Global Holdings, Inc. (NYSE:FRGE - Get Free Report) CRO Jennifer Phillips sold 810 shares of Forge Global stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $16.43, for a total transaction of $13,308.30. Following the completion of the sale, the executive now directly owns 17,281 shares in the company, valued at approximately $283,926.83. This represents a 4.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Jennifer Phillips also recently made the following trade(s):

• On Thursday, May 29th, Jennifer Phillips sold 1,126 shares of Forge Global stock. The stock was sold at an average price of $15.02, for a total transaction of $16,912.52.
• On Monday, May 19th, Jennifer Phillips sold 500 shares of Forge Global stock. The shares were sold at an average price of $15.00, for a total value of $7,500.00.
• On Tuesday, April 15th, Jennifer Phillips sold 16,150 shares of Forge Global stock. The stock was sold at an average price of $15.11, for a total value of $244,026.50.

Forge Global Price Performance

Shares of Forge Global stock traded up $0.22 during trading hours on Monday, reaching $17.42. The company had a trading volume of 83,270 shares, compared to its average volume of 60,843. Forge Global Holdings, Inc. has a one year low of $6.60 and a one year high of $24.45. The firm has a market cap of $214.79 million, a PE ratio of -3.36 and a beta of 2.19. The business has a fifty day simple moving average of $14.02 and a 200 day simple moving average of $12.64.

Forge Global (NYSE:FRGE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.34) by $0.05. The firm had revenue of $25.30 million for the quarter, compared to the consensus estimate of $21.50 million. Forge Global had a negative net margin of 74.82% and a negative return on equity of 27.44%. On average, research analysts forecast that Forge Global Holdings, Inc. will post -0.37 EPS for the current year.

Forge Global declared that its board has approved a share repurchase plan on Wednesday, March 5th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to repurchase up to 6.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

FRGE has been the topic of a number of recent research reports. JMP Securities dropped their price target on Forge Global from $75.00 to $60.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $18.00 price objective on shares of Forge Global in a report on Wednesday, May 14th. Finally, Piper Sandler upgraded shares of Forge Global from a "neutral" rating to an "overweight" rating and set a $30.00 target price for the company in a research note on Monday, May 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in Forge Global during the fourth quarter valued at $226,000. Intech Investment Management LLC raised its holdings in shares of Forge Global by 361.3% in the 4th quarter. Intech Investment Management LLC now owns 55,500 shares of the company's stock valued at $52,000 after acquiring an additional 43,468 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Forge Global during the 4th quarter valued at about $53,000. Prudential Financial Inc. bought a new stake in shares of Forge Global during the 4th quarter valued at about $27,000. Finally, JPMorgan Chase & Co. grew its holdings 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. 40.67% of the stock is currently owned by hedge funds and other institutional investors.

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.