Forge Global (NYSE:FRGE) Trading Down 2.6% – Time to Sell?

Forge Global Holdings, Inc. (NYSE:FRGE)’s share price traded down 2.6% on Wednesday . The stock traded as low as $0.76 and last traded at $0.82. 693,582 shares were traded during trading, an increase of 11% from the average session volume of 623,680 shares. The stock had previously closed at $0.84.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Forge Global in a research note on Tuesday, January 7th.

Forge Global Stock Performance

The firm’s 50 day moving average price is $0.87 and its two-hundred day moving average price is $1.12. The firm has a market cap of $150.82 million, a PE ratio of -1.90 and a beta of 2.30.

Insider Buying and Selling at Forge Global

In other Forge Global news, CRO Jennifer Phillips sold 50,000 shares of Forge Global stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $1.07, for a total value of $53,500.00. Following the transaction, the executive now directly owns 744,018 shares in the company, valued at approximately $796,099.26. The trade was a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kelly Rodriques sold 31,735 shares of Forge Global stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $1.02, for a total transaction 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 approximately $8,521,464.54. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,265 shares of company stock valued at $203,042 in the last 90 days. Company insiders own 9.84% of the company’s stock.

Institutional Trading of Forge Global

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of Forge Global by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,651,436 shares of the company’s stock valued at $2,469,000 after buying an additional 31,550 shares during the period. State Street Corp lifted its stake in shares of Forge Global by 1.2% during the third quarter. State Street Corp now owns 2,263,898 shares of the company’s stock valued at $2,966,000 after buying an additional 25,833 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Forge Global by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 965,837 shares of the company’s stock valued at $1,265,000 after buying an additional 36,913 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Forge Global by 341.0% during the fourth quarter. JPMorgan Chase & Co. now owns 381,805 shares of the company’s stock valued at $355,000 after buying an additional 295,235 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Forge Global during the fourth quarter valued at approximately $226,000. Hedge funds and other institutional investors own 40.67% 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.