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 shares were sold at an average price of $16.43, for a total transaction of $13,308.30. Following the sale, the executive now owns 17,281 shares of the company's stock, valued at approximately $283,926.83. This represents a 4.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $15.00, for a total transaction 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 transaction of $244,026.50.
Forge Global Price Performance
NYSE:FRGE traded down $0.15 on Friday, reaching $17.35. The stock had a trading volume of 79,213 shares, compared to its average volume of 60,711. The firm's fifty day moving average is $13.86 and its two-hundred day moving average is $12.65. Forge Global Holdings, Inc. has a 12-month low of $6.60 and a 12-month high of $24.45.
Forge Global (NYSE:FRGE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($1.29) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.05. Forge Global had a negative net margin of 74.82% and a negative return on equity of 27.44%. The business had revenue of $25.30 million for the quarter, compared to analyst estimates of $21.50 million. Research analysts expect that Forge Global Holdings, Inc. will post -0.37 EPS for the current year.
Forge Global declared that its board has approved a stock buyback plan on Wednesday, March 5th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. acquired a new stake in Forge Global in the fourth quarter valued at approximately $27,000. ProShare Advisors LLC grew its position in shares of Forge Global by 51.3% during the fourth quarter. ProShare Advisors LLC now owns 32,807 shares of the company's stock worth $31,000 after buying an additional 11,126 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Forge Global during the fourth quarter worth approximately $32,000. Focus Partners Wealth acquired a new stake in shares of Forge Global during the fourth quarter worth approximately $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Forge Global by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company's stock worth $39,000 after buying an additional 2,964 shares in the last quarter. Hedge funds and other institutional investors own 40.67% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. Piper Sandler upgraded shares of Forge Global from a "neutral" rating to an "overweight" rating and set a $30.00 price target for the company in a research report on Monday, May 12th. JMP Securities lowered their price target on shares of Forge Global from $75.00 to $60.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $18.00 price objective on shares of Forge Global in a research note on Wednesday, May 14th.
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About Forge Global
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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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