Insider Selling: Forge Global Holdings, Inc. (NYSE:FRGE) CRO Sells 25,000 Shares of Stock

Forge Global Holdings, Inc. (NYSE:FRGE) CRO Jennifer Phillips sold 25,000 shares of Forge Global stock in a transaction on Monday, November 4th. The shares were sold at an average price of $1.14, for a total transaction of $28,500.00. Following the completion of the sale, the executive now owns 829,581 shares of the company’s stock, valued at $945,722.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, November 1st, Jennifer Phillips sold 25,000 shares of Forge Global stock. The shares were sold at an average price of $1.14, for a total transaction of $28,500.00.
• On Thursday, October 24th, Jennifer Phillips sold 38,916 shares of Forge Global stock. The shares were sold at an average price of $1.21, for a total transaction of $47,088.36.
• On Tuesday, October 22nd, Jennifer Phillips sold 50,000 shares of Forge Global stock. The shares were sold at an average price of $1.28, for a total transaction of $64,000.00.

Forge Global Stock Up 10.9 %

NYSE FRGE opened at $1.32 on Thursday. The company has a market cap of $241.77 million, a PE ratio of -3.00 and a beta of 2.39. Forge Global Holdings, Inc. has a 52 week low of $1.11 and a 52 week high of $4.02. The firm’s 50-day simple moving average is $1.29 and its two-hundred day simple moving average is $1.47.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in shares of Forge Global in the third quarter worth approximately $32,000. Price T Rowe Associates Inc. MD increased its position in shares of Forge Global by 29.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,686 shares of the company’s stock worth $66,000 after purchasing an additional 7,663 shares during the last quarter. Norden Group LLC bought a new position in shares of Forge Global in the second quarter worth approximately $53,000. Miracle Mile Advisors LLC increased its position in shares of Forge Global by 166.7% in the second quarter. Miracle Mile Advisors LLC now owns 40,000 shares of the company’s stock worth $58,000 after purchasing an additional 25,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Forge Global by 23.8% in the second quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock worth $72,000 after buying an additional 9,406 shares in the last quarter. 40.67% of the stock is currently owned by institutional investors.

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.