Forge Global Holdings, Inc. (NYSE:FRGE) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Forge Global Holdings, Inc. has received a consensus rating of "Hold" from five research firms, with one analyst issuing a sell and three assigning buy recommendations.
• The average 12-month price target for Forge Global stock is $35.50, despite the shares currently trading around $16.55.
• Recent insider trading includes CFO James Nevin purchasing 1,950 shares at $22.65 each, while CEO Kelly Rodriques sold 7,470 shares at an average price of $20.55.

Shares of Forge Global Holdings, Inc. (NYSE:FRGE - Get Free Report) have received an average recommendation of "Hold" from the five research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $35.50.

FRGE has been the subject of several recent analyst reports. UBS Group lifted their price objective on shares of Forge Global from $30.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Forge Global in a research note on Saturday, September 27th. Finally, Wall Street Zen lowered shares of Forge Global from a "hold" rating to a "sell" rating in a research note on Friday, July 18th.

Forge Global Stock Down 0.1%

Shares of NYSE FRGE traded down $0.01 during mid-day trading on Friday, hitting $16.55. 43,238 shares of the company's stock traded hands, compared to its average volume of 84,749. The company's 50-day moving average is $18.73 and its two-hundred day moving average is $15.64. Forge Global has a 1 year low of $6.60 and a 1 year high of $24.90.

Forge Global (NYSE:FRGE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.99) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.17. The firm had revenue of $27.74 million for the quarter, compared to analysts' expectations of $21.00 million. Forge Global had a negative net margin of 73.62% and a negative return on equity of 28.21%. On average, equities research analysts anticipate that Forge Global will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at Forge Global

In other news, CFO James Nevin acquired 1,950 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost of $22.65 per share, with a total value of $44,167.50. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kelly Rodriques sold 7,470 shares of Forge Global stock in a transaction on Monday, August 18th. The stock was sold at an average price of $20.55, for a total transaction of $153,508.50. Following the transaction, the chief executive officer directly owned 575,862 shares of the company's stock, valued at $11,833,964.10. The trade was a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.

Institutional Trading of Forge Global

A number of large investors have recently made changes to their positions in FRGE. ProShare Advisors LLC raised its holdings in shares of Forge Global by 51.3% in the fourth quarter. ProShare Advisors LLC now owns 32,807 shares of the company's stock valued at $31,000 after acquiring an additional 11,126 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Forge Global by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company's stock valued at $39,000 after acquiring an additional 2,964 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Forge Global in the second quarter valued at about $47,000. Summit Trail Advisors LLC raised its holdings in shares of Forge Global by 19.7% in the first quarter. Summit Trail Advisors LLC now owns 157,666 shares of the company's stock valued at $89,000 after acquiring an additional 26,000 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Forge Global by 305.0% in the first quarter. AQR Capital Management LLC now owns 194,616 shares of the company's stock valued at $109,000 after acquiring an additional 146,565 shares in the last quarter. 40.67% of the stock is owned by hedge funds and other 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.

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