Cresset Asset Management LLC Has $378,000 Holdings in Forge Global Holdings, Inc. $FRGE

Cresset Asset Management LLC cut its position in Forge Global Holdings, Inc. (NYSE:FRGE) by 35.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 673,466 shares of the company’s stock after selling 366,017 shares during the quarter. Cresset Asset Management LLC owned approximately 5.46% of Forge Global worth $378,000 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. ProShare Advisors LLC grew its stake in Forge Global by 51.3% in the 4th quarter. ProShare Advisors LLC now owns 32,807 shares of the company’s stock valued at $31,000 after buying an additional 11,126 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Forge Global in the 4th quarter worth $32,000. Focus Partners Wealth acquired a new stake in Forge Global in the 4th quarter worth $37,000. XTX Topco Ltd acquired a new stake in Forge Global in the 4th quarter worth $79,000. Finally, Summit Trail Advisors LLC grew its position in Forge Global by 19.7% in the 1st quarter. Summit Trail Advisors LLC now owns 157,666 shares of the company’s stock worth $89,000 after purchasing an additional 26,000 shares during the last quarter. 40.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Forge Global

In other Forge Global news, CEO Kelly Rodriques sold 7,470 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $20.55, for a total value of $153,508.50. Following the completion of the transaction, the chief executive officer directly owned 575,862 shares of the company’s stock, valued at approximately $11,833,964.10. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James Nevin bought 1,950 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost of $22.65 per share, with a total value of $44,167.50. Following the completion of the purchase, the chief financial officer owned 24,124 shares of the company’s stock, valued at approximately $546,408.60. The trade was a 8.79% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 12,936 shares of company stock valued at $253,306. Insiders own 4.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FRGE. Wall Street Zen lowered shares of Forge Global from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 price objective on shares of Forge Global in a report on Wednesday, May 14th. Piper Sandler raised shares of Forge Global from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Monday, May 12th. Finally, UBS Group raised their price objective on shares of Forge Global from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.50.

Forge Global Stock Up 2.0%

Shares of FRGE stock opened at $19.4930 on Monday. Forge Global Holdings, Inc. has a 12-month low of $6.60 and a 12-month high of $24.90. The company has a market capitalization of $265.10 million, a P/E ratio of -3.66 and a beta of 2.30. The firm has a 50-day moving average price of $18.95 and a 200 day moving average price of $14.58.

Forge Global (NYSE:FRGE) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.99) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.17. Forge Global had a negative net margin of 73.62% and a negative return on equity of 28.21%. The firm had revenue of $27.74 million during the quarter, compared to the consensus estimate of $21.00 million. As a group, research analysts expect that Forge Global Holdings, Inc. will post -0.37 earnings per share for the current year.

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.