The Manufacturers Life Insurance Company Buys 9,406 Shares of Forge Global Holdings, Inc. (NYSE:FRGE)

The Manufacturers Life Insurance Company grew its stake in Forge Global Holdings, Inc. (NYSE:FRGE) by 23.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,008 shares of the company’s stock after buying an additional 9,406 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Forge Global were worth $72,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in Forge Global by 29.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,686 shares of the company’s stock worth $66,000 after acquiring an additional 7,663 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Forge Global by 42.2% in the second quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock worth $73,000 after purchasing an additional 14,800 shares during the period. Miracle Mile Advisors LLC purchased a new stake in shares of Forge Global in the first quarter worth $29,000. Norden Group LLC bought a new stake in shares of Forge Global during the 2nd quarter valued at $53,000. Finally, Bank of New York Mellon Corp raised its position in shares of 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 purchasing an additional 70,058 shares during the period. Institutional investors own 40.67% of the company’s stock.

Forge Global Trading Up 3.0 %

NYSE FRGE opened at $1.37 on Monday. Forge Global Holdings, Inc. has a 12 month low of $1.16 and a 12 month high of $4.02. The stock has a market cap of $248.02 million, a PE ratio of -2.74 and a beta of 2.37. The stock’s 50 day moving average is $1.33 and its 200 day moving average is $1.54.

Forge Global (NYSE:FRGE) last released its earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.04. The firm had revenue of $22.28 million for the quarter, compared to the consensus estimate of $20.24 million. Forge Global had a negative net margin of 96.65% and a negative return on equity of 27.75%. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. On average, analysts forecast that Forge Global Holdings, Inc. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, COO Drew Sievers sold 24,051 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1.30, for a total transaction of $31,266.30. Following the completion of the transaction, the chief operating officer now owns 832,444 shares in the company, valued at $1,082,177.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Drew Sievers sold 24,051 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1.30, for a total transaction of $31,266.30. Following the sale, the chief operating officer now directly owns 832,444 shares of the company’s stock, valued at $1,082,177.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kelly Rodriques sold 108,646 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $1.23, for a total transaction of $133,634.58. Following the completion of the transaction, the chief executive officer now directly owns 9,055,936 shares of the company’s stock, valued at approximately $11,138,801.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 376,790 shares of company stock worth $484,334 in the last 90 days. 9.84% of the stock is currently owned by corporate insiders.

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.