Forge Global Holdings, Inc. (NYSE:FRGE) CRO Jennifer Phillips Sells 38,916 Shares

Forge Global Holdings, Inc. (NYSE:FRGE) CRO Jennifer Phillips sold 38,916 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $1.21, for a total transaction of $47,088.36. Following the completion of the sale, the executive now owns 879,581 shares of the company’s stock, valued at approximately $1,064,293.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, October 22nd, Jennifer Phillips sold 50,000 shares of Forge Global stock. The stock was sold at an average price of $1.28, for a total transaction of $64,000.00.

Forge Global Trading Down 2.8 %

FRGE stock traded down $0.03 during midday trading on Thursday, reaching $1.21. The company had a trading volume of 294,453 shares, compared to its average volume of 535,601. Forge Global Holdings, Inc. has a 1 year low of $1.16 and a 1 year high of $4.02. The company has a market capitalization of $218.15 million, a P/E ratio of -2.41 and a beta of 2.37. The company has a 50 day moving average of $1.33 and a two-hundred day moving average of $1.53.

Forge Global (NYSE:FRGE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.04. Forge Global had a negative net margin of 96.65% and a negative return on equity of 27.75%. The company had revenue of $22.28 million for the quarter, compared to analyst estimates of $20.24 million. During the same quarter in the prior year, the business posted ($0.12) EPS. On average, sell-side analysts anticipate that Forge Global Holdings, Inc. will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FRGE. Interval Partners LP acquired a new position in shares of Forge Global during the 2nd quarter worth $373,000. Squarepoint Ops LLC increased its stake in shares of Forge Global by 1,068.2% during the 2nd quarter. Squarepoint Ops LLC now owns 164,454 shares of the company’s stock worth $240,000 after purchasing an additional 150,376 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Forge Global during the 1st quarter worth $261,000. Vanguard Group Inc. increased its stake in shares of Forge Global by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 5,539,496 shares of the company’s stock worth $10,691,000 after purchasing an additional 93,139 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Forge Global by 23.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 373,341 shares of the company’s stock worth $545,000 after purchasing an additional 70,058 shares during the last quarter. Institutional investors and hedge funds own 40.67% of the company’s stock.

Analysts Set New Price Targets

Separately, UBS Group upgraded shares of Forge Global from a “neutral” rating to a “buy” rating and set a $3.00 target price for the company in a research report on Tuesday, September 3rd.

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.