Arizona State Retirement System Takes Position in Forge Global Holdings, Inc. (NYSE:FRGE)

Arizona State Retirement System bought a new position in Forge Global Holdings, Inc. (NYSE:FRGE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 31,669 shares of the company’s stock, valued at approximately $109,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ausdal Financial Partners Inc. purchased a new position in Forge Global during the 4th quarter valued at approximately $71,000. Barclays PLC bought a new position in Forge Global during the 2nd quarter valued at about $83,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Forge Global in the third quarter worth approximately $90,000. Institutional investors own 40.67% of the company’s stock.

Forge Global Stock Performance

NYSE FRGE opened at $1.93 on Tuesday. Forge Global Holdings, Inc. has a one year low of $1.10 and a one year high of $4.02. The company has a market capitalization of $345.54 million, a price-to-earnings ratio of -3.70 and a beta of 2.57. The company’s 50-day simple moving average is $1.99 and its two-hundred day simple moving average is $2.44.

Forge Global (NYSE:FRGE) last released its quarterly earnings data on Tuesday, March 26th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The business had revenue of $19.06 million for the quarter, compared to the consensus estimate of $20.01 million. Forge Global had a negative net margin of 129.22% and a negative return on equity of 29.03%. Equities analysts expect that Forge Global Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price target on shares of Forge Global in a research note on Tuesday, April 9th. Oppenheimer reaffirmed an “outperform” rating and set a $3.50 target price on shares of Forge Global in a research report on Wednesday, March 27th.

Insider Buying and Selling at Forge Global

In related news, CEO Kelly Rodriques sold 24,818 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $1.77, for a total transaction of $43,927.86. Following the completion of the sale, the chief executive officer now directly owns 10,139,507 shares in the company, valued at approximately $17,946,927.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 95,621 shares of company stock valued at $181,654. 11.26% of the stock is currently owned by corporate insiders.

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.