The Manufacturers Life Insurance Company Grows Holdings in Forge Global Holdings, Inc. (NYSE:FRGE)

The Manufacturers Life Insurance Company grew its stake in shares of Forge Global Holdings, Inc. (NYSE:FRGE) by 23.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,008 shares of the company’s stock after purchasing an additional 9,406 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Forge Global were worth $72,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Miracle Mile Advisors LLC purchased a new stake in Forge Global in the 1st quarter valued at about $29,000. Norden Group LLC purchased a new position in shares of Forge Global during the second quarter worth approximately $53,000. Price T Rowe Associates Inc. MD raised its stake in shares of Forge Global by 29.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,686 shares of the company’s stock valued at $66,000 after acquiring an additional 7,663 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Forge Global by 42.2% in the second quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock valued at $73,000 after purchasing an additional 14,800 shares during the period. Finally, Squarepoint Ops LLC grew its stake in Forge Global by 1,068.2% in the second quarter. Squarepoint Ops LLC now owns 164,454 shares of the company’s stock worth $240,000 after purchasing an additional 150,376 shares in the last quarter. 40.67% of the stock is currently owned by institutional investors.

Forge Global Price Performance

Shares of Forge Global stock opened at $1.37 on Monday. The stock has a market cap of $248.02 million, a price-to-earnings ratio of -2.74 and a beta of 2.37. The firm’s 50-day moving average is $1.33 and its two-hundred day moving average is $1.54. Forge Global Holdings, Inc. has a 1 year low of $1.16 and a 1 year high of $4.02.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Forge Global

In related news, CEO Kelly Rodriques sold 24,562 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $1.31, for a total transaction of $32,176.22. Following the completion of the sale, the chief executive officer now directly owns 9,164,582 shares in the company, valued at $12,005,602.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Kelly Rodriques sold 24,562 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $1.31, for a total transaction of $32,176.22. Following the completion of the transaction, the chief executive officer now owns 9,164,582 shares in the company, valued at $12,005,602.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Drew Sievers sold 24,051 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $1.30, for a total transaction of $31,266.30. Following the sale, the chief operating officer now directly owns 832,444 shares of the company’s stock, valued at $1,082,177.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 376,790 shares of company stock valued at $484,334. 9.84% of the stock is currently owned by corporate insiders.

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.