Virtu Financial LLC Acquires Shares of 84,291 Forge Global Holdings, Inc. (NYSE:FRGE)

Virtu Financial LLC bought a new position in Forge Global Holdings, Inc. (NYSE:FRGE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 84,291 shares of the company’s stock, valued at approximately $289,000.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Forge Global by 177.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,725 shares of the company’s stock worth $54,000 after buying an additional 10,058 shares in the last quarter. Ausdal Financial Partners Inc. acquired a new stake in Forge Global during the 4th quarter valued at $71,000. Arizona State Retirement System bought a new position in Forge Global in the 4th quarter valued at $109,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Forge Global in the fourth quarter worth $134,000. Finally, SG Americas Securities LLC grew its holdings in shares of Forge Global by 17.5% during the fourth quarter. SG Americas Securities LLC now owns 51,810 shares of the company’s stock worth $178,000 after purchasing an additional 7,720 shares during the last quarter. Institutional investors and hedge funds own 40.67% of the company’s stock.

Forge Global Stock Down 2.0 %

Forge Global stock opened at $1.45 on Friday. The stock has a market cap of $262.51 million, a price-to-earnings ratio of -2.90 and a beta of 2.43. Forge Global Holdings, Inc. has a 12-month low of $1.45 and a 12-month high of $4.02. The business’s 50-day simple moving average is $1.76 and its 200 day simple moving average is $2.17.

Forge Global (NYSE:FRGE) last issued its earnings results on Tuesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $19.24 million for the quarter, compared to analyst estimates of $19.88 million. Forge Global had a negative net margin of 119.12% and a negative return on equity of 29.55%. As a group, sell-side analysts expect that Forge Global Holdings, Inc. will post -0.42 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on FRGE. Oppenheimer reiterated an “outperform” rating and set a $3.50 price target on shares of Forge Global in a research report on Wednesday, March 27th. JMP Securities reissued a “market outperform” rating and set a $7.00 price target on shares of Forge Global in a research note on Tuesday, April 9th.

Insiders Place Their Bets

In other news, CEO Kelly Rodriques sold 25,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $1.53, for a total value of $38,250.00. Following the transaction, the chief executive officer now owns 10,259,336 shares of the company’s stock, valued at approximately $15,696,784.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 115,311 shares of company stock valued at $204,839. Company insiders own 9.84% 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.