Truist Financial Corp Buys Shares of 10,000 Forge Global Holdings, Inc. $FRGE

Truist Financial Corp bought a new stake in Forge Global Holdings, Inc. (NYSE:FRGE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,000 shares of the company’s stock, valued at approximately $190,000. Truist Financial Corp owned approximately 0.08% of Forge Global as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FRGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Forge Global by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock worth $39,000 after buying an additional 2,964 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Forge Global by 19.7% during the first quarter. Summit Trail Advisors LLC now owns 157,666 shares of the company’s stock worth $89,000 after buying an additional 26,000 shares during the period. AQR Capital Management LLC lifted its stake in shares of Forge Global by 305.0% during the first quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock worth $109,000 after buying an additional 146,565 shares during the period. Interval Partners LP lifted its stake in shares of Forge Global by 1.2% during the first quarter. Interval Partners LP now owns 308,388 shares of the company’s stock worth $173,000 after buying an additional 3,578 shares during the period. Finally, Brendel Financial Advisors LLC acquired a new position in Forge Global during the second quarter valued at $209,000. 40.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FRGE has been the subject of a number of research reports. Wall Street Zen downgraded shares of Forge Global from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. UBS Group boosted their target price on shares of Forge Global from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Forge Global in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.50.

Forge Global Stock Performance

FRGE opened at $16.47 on Friday. Forge Global Holdings, Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $24.90. The company has a fifty day moving average of $17.93 and a two-hundred day moving average of $16.20. The stock has a market capitalization of $224.02 million, a price-to-earnings ratio of -3.09 and a beta of 2.25.

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

Insider Transactions at Forge Global

In related news, CFO James Nevin bought 1,950 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $22.65 per share, with a total value of $44,167.50. Following the completion of the purchase, the chief financial officer directly owned 24,124 shares of the company’s stock, valued at approximately $546,408.60. This trade represents a 8.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kelly Rodriques sold 3,530 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $19.71, for a total transaction of $69,576.30. Following the sale, the chief executive officer directly owned 572,332 shares of the company’s stock, valued at $11,280,663.72. This represents a 0.61% decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is owned by 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.