Citigroup Inc. Grows Position in ForgeRock, Inc. (NYSE:FORG)

Citigroup Inc. grew its stake in shares of ForgeRock, Inc. (NYSE:FORG – Get Rating) by 235.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,290 shares of the company’s stock after purchasing an additional 60,533 shares during the quarter. Citigroup Inc. owned approximately 0.10% of ForgeRock worth $1,965,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in ForgeRock by 222.4% in the third quarter. Royal Bank of Canada now owns 1,947 shares of the company’s stock worth $27,000 after acquiring an additional 1,343 shares during the period. Quantbot Technologies LP purchased a new stake in ForgeRock in the first quarter worth $36,000. Point72 Hong Kong Ltd purchased a new stake in ForgeRock in the third quarter worth $40,000. Shell Asset Management Co. purchased a new stake in ForgeRock in the fourth quarter worth $50,000. Finally, Legal & General Group Plc purchased a new position in ForgeRock during the second quarter valued at $56,000. Hedge funds and other institutional investors own 32.31% of the company’s stock.

Insider Activity

In other news, EVP Peter M. Barker sold 122,163 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $20.24, for a total transaction of $2,472,579.12. Following the completion of the transaction, the executive vice president now directly owns 91,241 shares in the company, valued at $1,846,717.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Peter M. Barker sold 122,163 shares of ForgeRock stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $20.24, for a total value of $2,472,579.12. Following the completion of the sale, the executive vice president now directly owns 91,241 shares in the company, valued at approximately $1,846,717.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Samuel J. Fleischmann sold 1,581 shares of ForgeRock stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $19.91, for a total value of $31,477.71. Following the completion of the sale, the insider now owns 121,852 shares of the company’s stock, valued at $2,426,073.32. The disclosure for this sale can be found here. Insiders sold 367,806 shares of company stock worth $7,446,844 over the last three months. 31.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, TheStreet lowered ForgeRock from a “c-” rating to a “d+” rating in a research report on Tuesday, February 7th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, ForgeRock presently has an average rating of “Hold” and an average target price of $22.80.

ForgeRock Price Performance

Shares of NYSE:FORG opened at $20.03 on Friday. ForgeRock, Inc. has a 1-year low of $14.13 and a 1-year high of $25.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.76 and a quick ratio of 3.76. The business has a fifty day moving average price of $20.21 and a 200-day moving average price of $20.87. The company has a market capitalization of $1.77 billion, a PE ratio of -23.02 and a beta of 1.04.

ForgeRock (NYSE:FORG – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). ForgeRock had a negative net margin of 32.35% and a negative return on equity of 17.32%. The company had revenue of $63.52 million for the quarter, compared to the consensus estimate of $61.29 million. As a group, equities analysts expect that ForgeRock, Inc. will post -0.59 EPS for the current fiscal year.

ForgeRock Company Profile

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ForgeRock, Inc, together with its subsidiaries, operates a digital identity platform to secure, manage, and govern the identities of customers, employees, partners, application programing interfaces (APIs), microservices, devices, and the Internet of things worldwide. It offers identity management products to automate onboarding/registration and progressive profiling, identity lifecycle and relationship management, identity provisioning and synchronization, user self-service, personalization, delegation, and privacy and consent management.