Insider Selling: Forge Global Holdings, Inc. (NYSE:FRGE) CRO Sells 16,150 Shares of Stock

Forge Global Holdings, Inc. (NYSE:FRGE) CRO Jennifer Phillips sold 16,150 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $15.11, for a total transaction of $244,026.50. Following the completion of the sale, the executive now directly owns 22,226 shares in the company, valued at approximately $335,834.86. This represents a 42.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, February 18th, Jennifer Phillips sold 10,607 shares of Forge Global stock. The stock was sold at an average price of $15.00, for a total transaction of $159,105.00.

Forge Global Trading Up 1.7 %

Shares of Forge Global stock opened at $8.79 on Friday. The company has a fifty day simple moving average of $10.74 and a 200-day simple moving average of $13.55. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -20.43 and a beta of 2.39. Forge Global Holdings, Inc. has a 12-month low of $6.60 and a 12-month high of $31.65.

Forge Global declared that its board has initiated a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FRGE shares. JMP Securities cut their price target on Forge Global from $75.00 to $60.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Forge Global in a report on Tuesday, January 7th.

Hedge Funds Weigh In On Forge Global

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Forge Global by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,651,436 shares of the company’s stock valued at $2,469,000 after purchasing an additional 31,550 shares during the last quarter. Wells Fargo & Company MN increased its position in Forge Global by 0.6% during the fourth quarter. Wells Fargo & Company MN now owns 2,583,455 shares of the company’s stock worth $2,405,000 after buying an additional 15,695 shares during the period. State Street Corp lifted its stake in Forge Global by 1.2% in the third quarter. State Street Corp now owns 2,263,898 shares of the company’s stock valued at $2,966,000 after buying an additional 25,833 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Forge Global by 14.6% in the fourth quarter. Northern Trust Corp now owns 1,069,884 shares of the company’s stock valued at $996,000 after acquiring an additional 135,946 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Forge Global by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 965,837 shares of the company’s stock worth $1,265,000 after acquiring an additional 36,913 shares during the last quarter. Hedge funds and other institutional investors own 40.67% of the company’s stock.

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.