First Eagle Investment Management LLC Invests $261,000 in Forge Global Holdings, Inc. (NYSE:FRGE)

First Eagle Investment Management LLC purchased a new position in shares of Forge Global Holdings, Inc. (NYSE:FRGE) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 135,000 shares of the company’s stock, valued at approximately $261,000.

Several other institutional investors also recently modified their holdings of FRGE. Wells Fargo & Company MN increased its holdings in Forge Global by 0.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,548,972 shares of the company’s stock valued at $8,743,000 after purchasing an additional 6,487 shares during the period. Abacus Wealth Partners LLC grew its position in Forge Global by 107.3% in the 4th quarter. Abacus Wealth Partners LLC now owns 942,866 shares of the company’s stock valued at $3,234,000 after purchasing an additional 487,959 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of Forge Global by 8.8% in the fourth quarter. Summit Trail Advisors LLC now owns 321,667 shares of the company’s stock valued at $1,103,000 after purchasing an additional 26,000 shares in the last quarter. Swiss National Bank bought a new stake in Forge Global during the fourth quarter worth $766,000. Finally, Virtu Financial LLC bought a new stake in Forge Global during the fourth quarter worth $289,000. 40.67% of the stock is currently owned by institutional investors and hedge funds.

Forge Global Stock Performance

NYSE:FRGE traded up $0.01 during trading on Friday, reaching $1.51. The company’s stock had a trading volume of 96,345 shares, compared to its average volume of 634,453. The firm has a market cap of $273.37 million, a price-to-earnings ratio of -3.01 and a beta of 2.39. The firm has a 50 day moving average of $1.57 and a 200-day moving average of $1.89. Forge Global Holdings, Inc. has a 12 month low of $1.31 and a 12 month high of $4.02.

Forge Global (NYSE:FRGE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $19.24 million during the quarter, compared to the consensus estimate of $19.88 million. Forge Global had a negative return on equity of 29.55% and a negative net margin of 119.12%. Equities research analysts forecast that Forge Global Holdings, Inc. will post -0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $3.50 price target on shares of Forge Global in a report on Wednesday, March 27th. JMP Securities reiterated a “market outperform” rating and set a $7.00 price target on shares of Forge Global in a report on Tuesday, April 9th.

Insider Buying and Selling at Forge Global

In other Forge Global news, CEO Kelly Rodriques sold 33,762 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $1.81, for a total value of $61,109.22. Following the completion of the transaction, the chief executive officer now owns 10,310,574 shares in the company, valued at approximately $18,662,138.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 559,508 shares of company stock worth $822,662 in the last quarter. 9.84% of the stock is currently owned by company insiders.

Forge Global 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.