Charles Schwab Investment Management Inc. Acquires 36,913 Shares of Forge Global Holdings, Inc. (NYSE:FRGE)

Charles Schwab Investment Management Inc. lifted its stake in Forge Global Holdings, Inc. (NYSE:FRGE) by 4.0% in the third quarter, Holdings Channel.com reports. The firm owned 965,837 shares of the company’s stock after buying an additional 36,913 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Forge Global were worth $1,265,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Forge Global in the third quarter worth $32,000. Norden Group LLC bought a new stake in Forge Global in the second quarter worth about $53,000. The Manufacturers Life Insurance Company boosted its position in shares of Forge Global by 23.8% during the second quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock valued at $72,000 after buying an additional 9,406 shares during the period. Renaissance Technologies LLC grew its stake in shares of Forge Global by 42.2% during the second quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock valued at $73,000 after buying an additional 14,800 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Forge Global in the third quarter worth approximately $96,000. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Forge Global Price Performance

Shares of FRGE stock opened at $0.96 on Wednesday. The company has a market capitalization of $178.22 million, a P/E ratio of -2.24 and a beta of 2.30. The company’s 50-day simple moving average is $1.12 and its two-hundred day simple moving average is $1.30. Forge Global Holdings, Inc. has a one year low of $0.80 and a one year high of $4.02.

Forge Global (NYSE:FRGE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Forge Global had a negative return on equity of 29.04% and a negative net margin of 95.85%. The firm had revenue of $19.22 million during the quarter, compared to the consensus estimate of $22.80 million. On average, research analysts expect that Forge Global Holdings, Inc. will post -0.37 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In related news, CRO Jennifer Phillips sold 38,916 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $1.21, for a total transaction of $47,088.36. Following the completion of the sale, the executive now owns 879,581 shares of the company’s stock, valued at $1,064,293.01. This represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kelly Rodriques sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $1.33, for a total transaction of $66,500.00. Following the completion of the sale, the chief executive officer now owns 8,476,028 shares of the company’s stock, valued at approximately $11,273,117.24. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 352,781 shares of company stock worth $396,231. Company insiders own 9.84% of the company’s stock.

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.