Bank of New York Mellon Corp Buys 70,058 Shares of Forge Global Holdings, Inc. (NYSE:FRGE)

Bank of New York Mellon Corp grew its stake in shares of Forge Global Holdings, Inc. (NYSE:FRGE) by 23.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 373,341 shares of the company’s stock after acquiring an additional 70,058 shares during the quarter. Bank of New York Mellon Corp owned about 0.21% of Forge Global worth $545,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FRGE. Wells Fargo & Company MN increased its stake in Forge Global by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 2,548,972 shares of the company’s stock valued at $8,743,000 after purchasing an additional 6,487 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 during the last quarter. Miracle Mile Advisors LLC bought a new position in Forge Global in the 1st quarter valued at approximately $29,000. Virtu Financial LLC purchased a new stake in Forge Global during the 4th quarter valued at $289,000. Finally, Vanguard Group Inc. increased its holdings in shares of Forge Global by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 5,539,496 shares of the company’s stock worth $10,691,000 after purchasing an additional 93,139 shares in the last quarter. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Forge Global Stock Up 2.0 %

Shares of Forge Global stock opened at $1.31 on Tuesday. Forge Global Holdings, Inc. has a twelve month low of $1.17 and a twelve month high of $4.02. The company’s 50 day moving average is $1.39 and its 200 day moving average is $1.64. The company has a market cap of $236.26 million, a price-to-earnings ratio of -2.61 and a beta of 2.38.

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

Insiders Place Their Bets

In other news, CEO Kelly Rodriques sold 108,646 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 9,055,936 shares of the company’s stock, valued at approximately $11,138,801.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Drew Sievers sold 24,051 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1.30, for a total value of $31,266.30. Following the transaction, the chief operating officer now directly owns 832,444 shares of the company’s stock, valued at approximately $1,082,177.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kelly Rodriques sold 108,646 shares of Forge Global stock in a transaction on Monday, August 12th. The shares were sold at an average price of $1.23, for a total value of $133,634.58. Following the transaction, the chief executive officer now owns 9,055,936 shares in the company, valued at $11,138,801.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 856,899 shares of company stock valued at $1,168,993. Insiders own 9.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.