State Street Corp Buys 25,833 Shares of Forge Global Holdings, Inc. (NYSE:FRGE)

State Street Corp boosted its stake in shares of Forge Global Holdings, Inc. (NYSE:FRGE) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,263,898 shares of the company’s stock after buying an additional 25,833 shares during the period. State Street Corp owned approximately 1.22% of Forge Global worth $2,966,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Forge Global during the third quarter valued at approximately $32,000. Norden Group LLC purchased a new position in Forge Global during the 2nd quarter valued at $53,000. The Manufacturers Life Insurance Company grew its position in Forge Global by 23.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock valued at $72,000 after acquiring an additional 9,406 shares during the last quarter. Renaissance Technologies LLC increased its stake in 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. Finally, GSA Capital Partners LLP bought a new stake in shares of Forge Global during the third quarter worth $96,000. 40.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CRO Jennifer Phillips sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $1.28, for a total transaction of $64,000.00. Following the sale, the executive now owns 968,497 shares of the company’s stock, valued at $1,239,676.16. This trade represents a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kelly Rodriques sold 31,735 shares of Forge Global stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $1.02, for a total value of $32,369.70. Following the completion of the transaction, the chief executive officer now owns 8,354,377 shares in the company, valued at $8,521,464.54. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 354,181 shares of company stock worth $397,631 in the last three months. Corporate insiders own 9.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of 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.

Forge Global Stock Performance

Shares of NYSE FRGE opened at $0.93 on Wednesday. The stock has a 50 day moving average price of $1.04 and a 200 day moving average price of $1.26. The firm has a market capitalization of $172.06 million, a price-to-earnings ratio of -2.16 and a beta of 2.30. Forge Global Holdings, Inc. has a 52-week low of $0.80 and a 52-week high of $3.56.

Forge Global (NYSE:FRGE) last issued its earnings results on Wednesday, November 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $19.22 million during the quarter, compared to analysts’ expectations of $22.80 million. Forge Global had a negative return on equity of 29.04% and a negative net margin of 95.85%. Analysts forecast that Forge Global Holdings, Inc. will post -0.37 earnings per share for the current year.

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.