Forge Global (NYSE:FRGE – Get Rating) had its target price cut by JMP Securities from $10.00 to $8.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' price target would indicate a potential upside of 346.93% from the stock's current price.
Several other equities analysts have also recently commented on the stock. UBS Group began coverage on shares of Forge Global in a research report on Wednesday, November 30th. They set a "neutral" rating and a $1.75 target price on the stock. JPMorgan Chase & Co. initiated coverage on Forge Global in a research report on Thursday, January 5th. They issued a "neutral" rating on the stock. Finally, Piper Sandler started coverage on Forge Global in a research report on Tuesday, November 22nd. They set a "neutral" rating and a $1.75 target price for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $3.83.
Get Forge Global alerts:Forge Global Price Performance
Shares of FRGE opened at $1.79 on Tuesday. Forge Global has a 52 week low of $1.26 and a 52 week high of $47.50. The stock has a 50 day moving average price of $1.52 and a two-hundred day moving average price of $3.32.
Forge Global (NYSE:FRGE – Get Rating) last announced its earnings results on Wednesday, November 9th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.09). The firm had revenue of $15.90 million for the quarter, compared to the consensus estimate of $17.11 million. On average, equities analysts anticipate that Forge Global will post -0.75 earnings per share for the current year.Insider Activity at Forge Global
In other news, Director Kimberley H. Vogel bought 33,000 shares of the stock in a transaction on Thursday, November 17th. The shares were purchased at an average cost of $1.51 per share, for a total transaction of $49,830.00. Following the completion of the purchase, the director now directly owns 33,000 shares in the company, valued at approximately $49,830. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Kimberley H. Vogel acquired 33,000 shares of the company's stock in a transaction that occurred on Thursday, November 17th. The shares were acquired at an average price of $1.51 per share, with a total value of $49,830.00. Following the acquisition, the director now owns 33,000 shares of the company's stock, valued at approximately $49,830. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimberley H. Vogel bought 30,303 shares of Forge Global stock in a transaction on Friday, November 11th. The shares were bought at an average cost of $1.65 per share, with a total value of $49,999.95. Following the acquisition, the director now directly owns 54,303 shares in the company, valued at $89,599.95. The disclosure for this purchase can be found here. 20.00% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. MUFG Americas Holdings Corp bought a new position in shares of Forge Global in the 3rd quarter worth $8,140,000. Renaissance Technologies LLC raised its position in Forge Global by 479.9% during the third quarter. Renaissance Technologies LLC now owns 478,381 shares of the company's stock valued at $837,000 after purchasing an additional 395,881 shares in the last quarter. State Street Corp boosted its holdings in shares of Forge Global by 4,042.9% in the 2nd quarter. State Street Corp now owns 327,617 shares of the company's stock worth $3,410,000 after purchasing an additional 319,709 shares in the last quarter. Summit Trail Advisors LLC bought a new position in shares of Forge Global during the 2nd quarter valued at about $2,652,000. Finally, Lasry Marc purchased a new position in shares of Forge Global during the 1st quarter valued at about $8,095,000. 13.68% of the stock is currently owned by institutional investors.
About Forge Global
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Forge Global Holdings, Inc provides marketplace infrastructure, data services, and technology solutions for private market participants. It enables private company shareholders to trade private company shares with accredited investors. The company was founded in 2014 and is based in San Francisco, California.
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