Brokerages Set Forge Global Holdings, Inc. (NYSE:FRGE) Target Price at $35.50

Shares of Forge Global Holdings, Inc. (NYSE:FRGE) have been assigned an average rating of “Hold” from the five research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $35.50.

FRGE has been the topic of a number of recent research reports. UBS Group boosted their target price on Forge Global from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forge Global in a report on Saturday, September 27th. Finally, Wall Street Zen downgraded shares of Forge Global from a “hold” rating to a “sell” rating in a research note on Friday, July 18th.

Forge Global Stock Performance

Forge Global stock opened at $16.55 on Friday. Forge Global has a 52 week low of $6.60 and a 52 week high of $24.90. The firm has a market capitalization of $225.09 million, a price-to-earnings ratio of -3.11 and a beta of 2.25. The company has a 50 day moving average price of $18.73 and a 200 day moving average price of $15.73.

Forge Global (NYSE:FRGE) last released its earnings results on Wednesday, July 30th. The company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.17. Forge Global had a negative return on equity of 28.21% and a negative net margin of 73.62%.The company had revenue of $27.74 million for the quarter, compared to analysts’ expectations of $21.00 million. Equities analysts forecast that Forge Global will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at Forge Global

In related news, CEO Kelly Rodriques sold 7,470 shares of Forge Global stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $20.55, for a total transaction 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 $11,833,964.10. This trade represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Nevin purchased 1,950 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of $22.65 per share, with a total value of $44,167.50. Following the completion of the acquisition, the chief financial officer directly owned 24,124 shares in the company, valued at approximately $546,408.60. This represents a 8.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.50% of the stock is owned by company insiders.

Institutional Trading of Forge Global

Hedge funds have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Forge Global during the second quarter worth $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Forge Global by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock valued at $39,000 after buying an additional 2,964 shares in the last quarter. Interval Partners LP lifted its holdings in shares of Forge Global by 1.2% in the first quarter. Interval Partners LP now owns 308,388 shares of the company’s stock valued at $173,000 after purchasing an additional 3,578 shares in the last quarter. Truist Financial Corp bought a new stake in shares of Forge Global in the second quarter worth $190,000. Finally, Brendel Financial Advisors LLC acquired a new position in shares of Forge Global during the 2nd quarter worth about $209,000. 40.67% of the stock is owned by institutional investors.

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.