Forge Global (NYSE:FRGE) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Forge Global (NYSE:FRGE) from a sell rating to a hold rating in a research report released on Saturday.

Several other research firms also recently commented on FRGE. Citigroup reaffirmed a “market outperform” rating on shares of Forge Global in a research note on Tuesday, October 28th. Piper Sandler downgraded shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Thursday. UBS Group set a $60.00 price target on Forge Global in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Forge Global in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.75.

Forge Global Stock Down 0.2%

FRGE opened at $44.00 on Friday. The firm has a 50 day moving average price of $18.86 and a 200-day moving average price of $17.69. The stock has a market capitalization of $598.33 million, a price-to-earnings ratio of -8.26 and a beta of 2.27. Forge Global has a twelve month low of $6.60 and a twelve month high of $44.08.

Insider Transactions at Forge Global

In other Forge Global news, CEO Kelly Rodriques sold 3,530 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $19.71, for a total value of $69,576.30. Following the sale, the chief executive officer owned 572,332 shares in the company, valued at $11,280,663.72. The trade was a 0.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FRGE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Forge Global by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock worth $39,000 after purchasing an additional 2,964 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in Forge Global during the 2nd quarter valued at approximately $47,000. CWM LLC grew its holdings in Forge Global by 27.8% during the 3rd quarter. CWM LLC now owns 4,409 shares of the company’s stock valued at $75,000 after buying an additional 960 shares in the last quarter. AQR Capital Management LLC increased its stake in Forge Global by 305.0% in the 1st quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock worth $109,000 after acquiring an additional 146,565 shares during the last quarter. Finally, Interval Partners LP raised its holdings in shares of Forge Global by 1.2% during the 1st quarter. Interval Partners LP now owns 308,388 shares of the company’s stock worth $173,000 after acquiring an additional 3,578 shares in the last quarter. Hedge funds and other institutional investors own 40.67% of the company’s stock.

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.