Forge Global's (FRGE) Market Outperform Rating Reaffirmed at JMP Securities

Forge Global (NYSE:FRGE - Get Free Report)'s stock had its "market outperform" rating reiterated by investment analysts at JMP Securities in a report issued on Tuesday, Benzinga reports. They currently have a $7.00 price target on the stock. JMP Securities' price objective suggests a potential upside of 197.24% from the stock's current price.

Separately, Oppenheimer reiterated an "outperform" rating and set a $3.50 price objective on shares of Forge Global in a research note on Wednesday, March 27th.

Forge Global Stock Up 9.0 %

Shares of FRGE stock traded up $0.19 during trading hours on Tuesday, hitting $2.36. 1,287,986 shares of the company's stock traded hands, compared to its average volume of 784,301. Forge Global has a 12-month low of $1.10 and a 12-month high of $4.02. The stock's fifty day simple moving average is $1.95 and its two-hundred day simple moving average is $2.43. The stock has a market cap of $422.72 million, a price-to-earnings ratio of -4.38 and a beta of 2.57.

Insider Transactions at Forge Global

In other Forge Global news, CEO Kelly Rodriques sold 24,818 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $1.77, for a total value of $43,927.86. Following the transaction, the chief executive officer now directly owns 10,139,507 shares of the company's stock, valued at approximately $17,946,927.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 74,818 shares of company stock valued at $143,377 in the last three months. 11.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Forge Global by 393.8% during the 2nd quarter. BlackRock Inc. now owns 7,474,829 shares of the company's stock valued at $18,164,000 after acquiring an additional 5,961,171 shares in the last quarter. MUFG Americas Holdings Corp acquired a new position in shares of Forge Global during the third quarter worth $8,140,000. State Street Corp boosted its holdings in Forge Global by 397.6% in the second quarter. State Street Corp now owns 1,828,086 shares of the company's stock valued at $4,442,000 after purchasing an additional 1,460,669 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Forge Global by 124.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,995,803 shares of the company's stock worth $4,850,000 after purchasing an additional 1,106,935 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Forge Global by 396.3% during the second quarter. Northern Trust Corp now owns 875,678 shares of the company's stock worth $2,128,000 after purchasing an additional 699,233 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 offers trading solution, a platform that connects investors with private company shareholders and enables them to efficiently facilitate private share transactions; and custody solution, which enables clients to securely custody and manage assets.