Los Angeles Capital Management LLC Lowers Stock Position in Forge Global Holdings, Inc. $FRGE

Los Angeles Capital Management LLC decreased its position in Forge Global Holdings, Inc. (NYSE:FRGE) by 93.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,342 shares of the company’s stock after selling 306,618 shares during the period. Los Angeles Capital Management LLC owned about 0.17% of Forge Global worth $406,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FRGE. Truist Financial Corp acquired a new stake in shares of Forge Global during the 2nd quarter valued at about $190,000. Brendel Financial Advisors LLC purchased a new position in Forge Global during the second quarter worth approximately $209,000. Valeo Financial Advisors LLC purchased a new position in Forge Global during the second quarter worth approximately $728,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 valued at $39,000 after purchasing an additional 2,964 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Forge Global by 305.0% in the first quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock valued at $109,000 after buying an additional 146,565 shares in the last quarter. Institutional investors and hedge funds own 40.67% of the company’s stock.

Forge Global Stock Down 0.0%

Shares of FRGE opened at $44.11 on Friday. Forge Global Holdings, Inc. has a 52-week low of $6.60 and a 52-week high of $44.76. The stock has a market cap of $599.89 million, a PE ratio of -8.48 and a beta of 2.27. The firm’s fifty day moving average is $21.50 and its two-hundred day moving average is $18.77.

Insiders Place Their Bets

In related news, CEO Kelly Rodriques sold 7,470 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $20.55, for a total transaction of $153,508.50. Following the completion of the sale, the chief executive officer owned 575,862 shares of the company’s stock, valued at approximately $11,833,964.10. This represents a 1.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

FRGE has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Forge Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Citigroup restated a “market outperform” rating on shares of Forge Global in a research report on Tuesday, October 28th. UBS Group downgraded shares of Forge Global from a “buy” rating to a “neutral” rating and increased their price objective for the company from $34.00 to $45.00 in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forge Global in a research report on Wednesday, October 8th. Finally, Piper Sandler downgraded shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.00.

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.