Forge Global Holdings, Inc. (NYSE:FRGE) Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC cut its holdings in Forge Global Holdings, Inc. (NYSE:FRGE) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,449,822 shares of the company’s stock after selling 165,000 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Forge Global were worth $4,142,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new position in Forge Global during the fourth quarter worth about $226,000. Barclays PLC increased its stake in shares of Forge Global by 278.5% during the 3rd quarter. Barclays PLC now owns 150,241 shares of the company’s stock worth $197,000 after purchasing an additional 110,549 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Forge Global during the 3rd quarter worth approximately $96,000. Miracle Mile Advisors LLC raised its position in shares of Forge Global by 116.8% during the 4th quarter. Miracle Mile Advisors LLC now owns 86,700 shares of the company’s stock worth $81,000 after purchasing an additional 46,700 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in Forge Global by 361.3% in the 4th quarter. Intech Investment Management LLC now owns 55,500 shares of the company’s stock valued at $52,000 after buying an additional 43,468 shares in the last quarter. 40.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Kelly Rodriques sold 50,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $0.80, for a total transaction of $40,000.00. Following the transaction, the chief executive officer now directly owns 8,030,213 shares in the company, valued at $6,424,170.40. This represents a 0.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Jennifer Phillips sold 159,108 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $1.00, for a total transaction of $159,108.00. Following the completion of the sale, the executive now directly owns 604,728 shares in the company, valued at $604,728. This represents a 20.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Forge Global in a report on Tuesday, January 7th.

Forge Global Price Performance

NYSE:FRGE opened at $0.61 on Friday. The firm has a market cap of $114.58 million, a PE ratio of -1.42 and a beta of 2.21. The firm has a 50 day simple moving average of $0.78 and a 200-day simple moving average of $1.01. Forge Global Holdings, Inc. has a 1-year low of $0.55 and a 1-year high of $3.56.

Forge Global declared that its Board of Directors has authorized a share buyback plan on Wednesday, March 5th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.