Summit Trail Advisors LLC Sells 9,800 Shares of Forge Global Holdings, Inc. (NYSE:FRGE)

Summit Trail Advisors LLC decreased its position in shares of Forge Global Holdings, Inc. (NYSE:FRGE) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,867 shares of the company’s stock after selling 9,800 shares during the quarter. Summit Trail Advisors LLC owned approximately 0.16% of Forge Global worth $417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Miracle Mile Advisors LLC acquired a new position in Forge Global in the 1st quarter valued at approximately $29,000. Norden Group LLC acquired a new stake in Forge Global in the second quarter valued at $53,000. Price T Rowe Associates Inc. MD raised its position in Forge Global by 29.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,686 shares of the company’s stock worth $66,000 after purchasing an additional 7,663 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Forge Global by 42.2% during the 2nd quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock worth $73,000 after buying an additional 14,800 shares during the period. Finally, First Eagle Investment Management LLC bought a new stake in shares of Forge Global in the 1st quarter valued at about $261,000. Institutional investors own 40.67% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Kelly Rodriques sold 18,405 shares of Forge Global stock in a transaction on Monday, September 16th. The shares were sold at an average price of $1.36, for a total value of $25,030.80. Following the completion of the sale, the chief executive officer now owns 8,600,995 shares in the company, valued at approximately $11,697,353.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Kelly Rodriques sold 18,405 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $1.36, for a total value of $25,030.80. Following the completion of the sale, the chief executive officer now directly owns 8,600,995 shares in the company, valued at approximately $11,697,353.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Drew Sievers sold 24,051 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $1.30, for a total value of $31,266.30. Following the completion of the sale, the chief operating officer now directly owns 832,444 shares of the company’s stock, valued at $1,082,177.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 856,899 shares of company stock worth $1,168,993. Corporate insiders own 9.84% of the company’s stock.

Forge Global Stock Up 2.0 %

FRGE stock opened at $1.31 on Tuesday. The firm has a market cap of $236.26 million, a price-to-earnings ratio of -2.61 and a beta of 2.38. The company’s fifty day simple moving average is $1.39 and its 200 day simple moving average is $1.64. Forge Global Holdings, Inc. has a 12-month low of $1.17 and a 12-month high of $4.02.

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

Analyst Upgrades and Downgrades

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

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.