State Street Corp Increases Stake in Forge Global Holdings, Inc. (NYSE:FRGE)

State Street Corp boosted its stake in shares of Forge Global Holdings, Inc. (NYSE:FRGE) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,263,898 shares of the company’s stock after purchasing an additional 25,833 shares during the period. State Street Corp’s holdings in Forge Global were worth $2,966,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Interval Partners LP acquired a new position in shares of Forge Global in the second quarter valued at about $373,000. Squarepoint Ops LLC boosted its position in Forge Global by 1,068.2% in the second quarter. Squarepoint Ops LLC now owns 164,454 shares of the company’s stock valued at $240,000 after buying an additional 150,376 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Forge Global by 64.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 221,959 shares of the company’s stock worth $324,000 after buying an additional 86,959 shares during the period. GSA Capital Partners LLP purchased a new position in Forge Global during the 3rd quarter worth approximately $96,000. Finally, Bank of New York Mellon Corp lifted its stake in 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 valued at $545,000 after acquiring an additional 70,058 shares during the period. 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 price objective on the stock in a research note on Tuesday, September 3rd.

Forge Global Stock Up 3.3 %

Shares of FRGE stock opened at $0.93 on Wednesday. The stock has a market cap of $172.06 million, a PE ratio of -2.16 and a beta of 2.30. Forge Global Holdings, Inc. has a 52-week low of $0.80 and a 52-week high of $3.56. The business has a 50-day simple moving average of $1.04 and a 200-day simple moving average of $1.26.

Forge Global (NYSE:FRGE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $19.22 million during the quarter, compared to analyst estimates of $22.80 million. Forge Global had a negative net margin of 95.85% and a negative return on equity of 29.04%. Sell-side analysts anticipate that Forge Global Holdings, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Forge Global

In other Forge Global news, CEO Kelly Rodriques sold 50,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $1.33, for a total transaction of $66,500.00. Following the transaction, the chief executive officer now owns 8,476,028 shares in the company, valued at approximately $11,273,117.24. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jennifer Phillips sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $1.14, for a total value of $28,500.00. Following the completion of the sale, the executive now directly owns 854,581 shares in the company, valued at approximately $974,222.34. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 354,181 shares of company stock worth $397,631 in the last three months. Company insiders own 9.84% of the company’s stock.

Forge Global 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.