Forge Global's (FRGE) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Forge Global (NYSE:FRGE - Free Report) in a research report released on Wednesday morning, Marketbeat reports. The firm currently has a $18.00 price objective on the stock.

FRGE has been the subject of a number of other research reports. JMP Securities decreased their price objective on shares of Forge Global from $75.00 to $60.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. 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.

Forge Global Trading Up 1.1%

Shares of Forge Global stock traded up $0.15 during trading hours on Wednesday, reaching $14.35. The stock had a trading volume of 137,827 shares, compared to its average volume of 55,114. The stock's 50 day moving average is $11.00 and its 200 day moving average is $12.78. The firm has a market capitalization of $176.91 million, a PE ratio of -33.37 and a beta of 2.27. Forge Global has a twelve month low of $6.60 and a twelve month high of $29.40.

Forge Global (NYSE:FRGE - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $25.30 million during the quarter, compared to the consensus estimate of $21.50 million. Forge Global had a negative net margin of 95.85% and a negative return on equity of 29.04%. As a group, sell-side analysts predict that Forge Global will post -0.37 earnings per share for the current year.

Forge Global declared that its board has authorized a stock repurchase program on Wednesday, March 5th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CRO Jennifer Phillips sold 16,150 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $15.11, for a total transaction of $244,026.50. Following the completion of the sale, the executive now owns 22,226 shares of the company's stock, valued at approximately $335,834.86. This represents a 42.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company's stock.

Institutional Trading of Forge Global

Several large investors have recently bought and sold shares of FRGE. Prudential Financial Inc. purchased a new stake in Forge Global during the 4th quarter valued at about $27,000. ProShare Advisors LLC grew its stake in shares of Forge Global by 51.3% in the 4th quarter. ProShare Advisors LLC now owns 32,807 shares of the company's stock valued at $31,000 after buying an additional 11,126 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of Forge Global in the 4th quarter valued at approximately $32,000. Focus Partners Wealth purchased a new stake in shares of Forge Global in the 4th quarter valued at approximately $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Forge Global by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company's stock valued at $39,000 after buying an additional 2,964 shares during the period. Hedge funds and other institutional investors own 40.67% of the company's stock.

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.