Forge Global Holdings, Inc. (NYSE:FRGE) COO Drew Sievers Sells 11,042 Shares

Forge Global Holdings, Inc. (NYSE:FRGE) COO Drew Sievers sold 11,042 shares of Forge Global stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $1.36, for a total value of $15,017.12. Following the sale, the chief operating officer now directly owns 800,320 shares in the company, valued at approximately $1,088,435.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Drew Sievers also recently made the following trade(s):

• On Thursday, August 15th, Drew Sievers sold 24,051 shares of Forge Global stock. The stock was sold at an average price of $1.30, for a total transaction of $31,266.30.

Forge Global Stock Down 5.8 %

Shares of NYSE:FRGE opened at $1.29 on Friday. The firm has a fifty day simple moving average of $1.39 and a two-hundred day simple moving average of $1.65. Forge Global Holdings, Inc. has a 52 week low of $1.17 and a 52 week high of $4.02. The stock has a market capitalization of $233.54 million, a P/E ratio of -2.58 and a beta of 2.38.

Forge Global (NYSE:FRGE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.04. Forge Global had a negative return on equity of 27.75% and a negative net margin of 96.65%. The company had revenue of $22.28 million during the quarter, compared to analyst estimates of $20.24 million. During the same quarter last year, the business posted ($0.12) earnings per share. On average, analysts expect that Forge Global Holdings, Inc. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, UBS Group upgraded Forge Global from a “neutral” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Tuesday, September 3rd.

Hedge Funds Weigh In On Forge Global

Several large investors have recently modified their holdings of the stock. Miracle Mile Advisors LLC bought a new stake in Forge Global in the first quarter worth $29,000. Norden Group LLC bought a new stake in shares of Forge Global in the 2nd quarter worth about $53,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Forge Global by 29.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,686 shares of the company’s stock worth $66,000 after purchasing an additional 7,663 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Forge Global by 23.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock valued at $72,000 after purchasing an additional 9,406 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Forge Global by 42.2% in the 2nd quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock worth $73,000 after purchasing an additional 14,800 shares during the period. Institutional investors own 40.67% of the company’s stock.

About Forge Global

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.