Insider Selling: Forge Global Holdings, Inc. (NYSE:FRGE) CRO Sells 1,126 Shares of Stock

Forge Global Holdings, Inc. (NYSE:FRGE - Get Free Report) CRO Jennifer Phillips sold 1,126 shares of Forge Global stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $15.02, for a total value of $16,912.52. Following the completion of the sale, the executive now owns 18,933 shares in the company, valued at $284,373.66. This represents a 5.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 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 NYSE FRGE traded down $0.38 during midday trading on Thursday, hitting $14.05. 16,213 shares of the company's stock were exchanged, compared to its average volume of 57,288. The stock's 50 day moving average price is $12.27 and its 200-day moving average price is $12.60. The firm has a market cap of $173.21 million, a P/E ratio of -32.67 and a beta of 2.19. Forge Global Holdings, Inc. has a twelve month low of $6.60 and a twelve month high of $26.10.

Forge Global (NYSE:FRGE - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($1.29) earnings per share for the quarter, topping analysts' consensus estimates of ($1.34) by $0.05. Forge Global had a negative return on equity of 29.04% and a negative net margin of 95.85%. The firm had revenue of $25.30 million during the quarter, compared to the consensus estimate of $21.50 million. On average, analysts expect that Forge Global Holdings, Inc. will post -0.37 EPS for the current fiscal year.

Forge Global declared that its board has approved a stock buyback program on Wednesday, March 5th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FRGE shares. JPMorgan Chase & Co. reissued a "neutral" rating and set a $18.00 target price on shares of Forge Global in a research note on Wednesday, May 14th. Piper Sandler raised 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. Finally, JMP Securities decreased their price objective on Forge Global from $75.00 to $60.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th.

Hedge Funds Weigh In On Forge Global

Several hedge funds have recently bought and sold shares of FRGE. AWM Investment Company Inc. grew its position in shares of Forge Global by 793.9% in the first quarter. AWM Investment Company Inc. now owns 3,928,927 shares of the company's stock valued at $2,208,000 after purchasing an additional 3,489,424 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Forge Global by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,651,436 shares of the company's stock valued at $2,469,000 after purchasing an additional 31,550 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of 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. Alyeska Investment Group L.P. acquired a new stake in shares of Forge Global in the first quarter valued at about $1,119,000. Finally, Northern Trust Corp grew its position in shares of Forge Global by 14.6% in the fourth quarter. Northern Trust Corp now owns 1,069,884 shares of the company's stock valued at $996,000 after purchasing an additional 135,946 shares during the last quarter. 40.67% of the stock is owned by institutional investors and hedge funds.

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.