Renaissance Technologies LLC Raises Stock Holdings in Forge Global Holdings, Inc. (NYSE:FRGE)

Renaissance Technologies LLC raised its position in shares of Forge Global Holdings, Inc. (NYSE:FRGE) by 42.2% during the 2nd quarter, Holdings Channel reports. The fund owned 49,900 shares of the company’s stock after purchasing an additional 14,800 shares during the period. Renaissance Technologies LLC’s holdings in Forge Global were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FRGE. Miracle Mile Advisors LLC purchased a new stake in Forge Global during the 1st quarter valued at $29,000. Price T Rowe Associates Inc. MD raised its holdings in Forge Global by 29.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,686 shares of the company’s stock valued at $66,000 after buying an additional 7,663 shares during the period. Norden Group LLC purchased a new stake in Forge Global during the 2nd quarter valued at $53,000. Virtu Financial LLC purchased a new stake in Forge Global during the 4th quarter valued at $289,000. Finally, First Eagle Investment Management LLC purchased a new stake in Forge Global during the 1st quarter valued at $261,000. 40.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Forge Global

In related news, CEO Kelly Rodriques sold 108,646 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $1.23, for a total transaction of $133,634.58. Following the completion of the transaction, the chief executive officer now directly owns 9,055,936 shares of the company’s stock, valued at $11,138,801.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Forge Global news, COO Drew Sievers sold 24,051 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1.30, for a total transaction of $31,266.30. Following the completion of the sale, the chief operating officer now directly owns 832,444 shares of the company’s stock, valued at $1,082,177.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kelly Rodriques sold 108,646 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $1.23, for a total value of $133,634.58. Following the transaction, the chief executive officer now directly owns 9,055,936 shares of the company’s stock, valued at approximately $11,138,801.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 391,899 shares of company stock worth $512,893. 9.84% of the stock is currently owned by company insiders.

Forge Global Trading Up 3.9 %

Shares of FRGE stock opened at $1.33 on Tuesday. The stock has a 50 day moving average of $1.33 and a 200 day moving average of $1.56. The stock has a market cap of $240.78 million, a P/E ratio of -2.66 and a beta of 2.37. Forge Global Holdings, Inc. has a twelve month low of $1.16 and a twelve month high of $4.02.

Forge Global (NYSE:FRGE) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The firm had revenue of $22.28 million for the quarter, compared to analyst estimates of $20.24 million. Forge Global had a negative return on equity of 27.75% and a negative net margin of 96.65%. During the same period in the previous year, the company posted ($0.12) earnings per share. On average, research analysts predict that Forge Global Holdings, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, UBS Group raised Forge Global from a “neutral” rating to a “buy” rating and set a $3.00 price objective on the stock in a research report on Tuesday, September 3rd.

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.