Forge Global (NYSE:FRGE) Sees Strong Trading Volume – Still a Buy?

Forge Global Holdings, Inc. (NYSE:FRGE) shares saw strong trading volume on Friday . 250,771 shares changed hands during mid-day trading, an increase of 100% from the previous session’s volume of 125,610 shares.The stock last traded at $43.9870 and had previously closed at $44.07.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FRGE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Forge Global in a report on Wednesday, October 8th. Wall Street Zen lowered Forge Global from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Piper Sandler downgraded Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Thursday. UBS Group set a $60.00 price target on Forge Global in a research report on Tuesday, October 28th. Finally, Citigroup reiterated a “market outperform” rating on shares of Forge Global in a report on Tuesday, October 28th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Forge Global presently has a consensus rating of “Hold” and a consensus target price of $45.75.

Forge Global Stock Down 0.2%

The stock has a fifty day moving average of $18.36 and a 200-day moving average of $17.43. The firm has a market capitalization of $597.97 million, a P/E ratio of -8.25 and a beta of 2.27.

Insider Buying and Selling at Forge Global

In other news, CEO Kelly Rodriques sold 7,470 shares of Forge Global stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $20.55, for a total value of $153,508.50. Following the sale, the chief executive officer directly owned 575,862 shares in the company, valued at $11,833,964.10. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Forge Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey acquired a new stake in Forge Global in the second quarter valued at $47,000. CWM LLC raised its holdings in shares of Forge Global by 27.8% in the 3rd quarter. CWM LLC now owns 4,409 shares of the company’s stock valued at $75,000 after purchasing an additional 960 shares during the period. Truist Financial Corp acquired a new stake in Forge Global in the 2nd quarter valued at about $190,000. Brendel Financial Advisors LLC bought a new position in Forge Global during the second quarter worth about $209,000. Finally, Valeo Financial Advisors LLC acquired a new position in Forge Global during the second quarter worth approximately $728,000. 40.67% of the stock is owned by institutional investors.

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.