On September 13, 2023, it was reported that Abacus Wealth Partners LLC had acquired a new stake in Forge Global Holdings, Inc. (NYSE: FRGE) during the first quarter of the year. According to the company’s most recent filing with the Securities and Exchange Commission, Abacus Wealth Partners LLC purchased approximately 454,907 shares of Forge Global stock, valued at around $632,000. As of the filing date, Abacus Wealth Partners LLC owned approximately 0.26% of Forge Global.
Forge Global (NYSE: FRGE) recently released its quarterly earnings results on August 8th. The company reported earnings per share of ($0.12) for the quarter, falling short of analysts’ consensus estimates by ($0.01). Furthermore, Forge Global had a negative return on equity of 26.89% and a negative net margin of 136.16%. In terms of revenue, the company generated $16.72 million during this period, surpassing analyst expectations of $16.38 million.
Looking ahead to the current year, analysts predict that Forge Global Holdings, Inc. will post an EPS (earnings per share) of -0.46.
This recent stake acquisition by Abacus Wealth Partners LLC highlights investors’ interest in Forge Global as they recognize potential opportunities within the company’s operations and growth prospects. It is worth noting that while Forge Global’s quarterly earnings performance fell short of analysts’ expectations, it remains to be seen how the company will navigate these challenges moving forward.
As with any investment decision, it is crucial for individuals to conduct thorough research and analysis before making decisions about their portfolios. Evaluating factors such as market trends and financial indicators can provide investors with valuable insights into a company’s profitability and long-term prospects.
Additionally, investors should always consider any risks associated with investing in stocks and consult with financial professionals or advisors who can provide guidance tailored to their specific needs and goals.
In conclusion, Abacus Wealth Partners LLC’s acquisition of a new stake in Forge Global Holdings, Inc. demonstrates continued interest in the company’s potential. While Forge Global’s recent earnings fell short of expectations, investors should carefully evaluate all available information and exercise due diligence before making investment decisions.
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Forge Global Garners Institutional Investors Amid CEO Stock Sale
Forge Global Attracts Institutional Investors While CEO Sells Stock
Introduction
Forge Global Holdings, Inc., a prominent financial technology company, has recently garnered the attention of several hedge funds and institutional investors. This article examines the investments made by renowned entities such as Citigroup Inc., Penserra Capital Management LLC, State Street Corp, Virtu Financial LLC, and Geode Capital Management LLC. Additionally, we explore how equities research analysts have provided insights regarding Forge Global’s performance, while shedding light on recent stock transactions involving the company’s CEO.
Institutional Investments in Forge Global
During the first quarter of this year, investment banking giant Citigroup Inc. purchased a new position in Forge Global worth $28,000. Similarly, Penserra Capital Management LLC also acquired a new position in Forge Global during the same period at approximately $193,000.
State Street Corp increased its stake in Forge Global by 2% during the third quarter. The corporation now owns 334,117 shares of Forge Global with an estimated value of $585,000 after an acquisition of an additional 6,500 shares.
Virtu Financial LLC entered the picture during the first quarter as well when it purchased shares of Forge Global valued at about $340,000. Lastly, Geode Capital Management LLC raised its holdings in Forge Global by 1.3% during the fourth quarter and currently owns 869,778 shares of the company’s stock worth approximately $1.5 million.
Analyst Ratings on FRGE Shares
Several equities research analysts have weighed in on FRGE shares’ performance and assigned ratings to provide investors with some guidance. Oppenheimer upgraded their price target for Forge Global from $2.40 to $3.50 and gave the company an “outperform” rating on August 9th.
Piper Sandler also provided positive feedback by boosting the target price for Forge Global shares from $1.75 to $2.50 on August 10th.
According to Bloomberg data, three research analysts have given the stock a “hold” rating, while two others have assigned a “buy” rating. The average rating for Forge Global is currently labeled as “Hold,” with a consensus target price of $3.69.
CEO’s Stock Transaction
In other news surrounding Forge Global, CEO Kelly Rodriques recently completed a stock sale transaction on September 5th. In this transaction, Rodriques sold 30,000 shares of the company’s stock at an average price of $2.26, totaling approximately $67,800.
After selling these shares, Rodriques still retains a substantial stake in Forge Global, with 10,638,420 shares valued at approximately $24 million.
Conclusion
Forge Global Holdings, Inc., has attracted significant attention from notable hedge funds and institutional investors such as Citigroup Inc., Penserra Capital Management LLC, State Street Corp, Virtu Financial LLC, and Geode Capital Management LLC. While these investments signify confidence in Forge Global’s potential growth and performance in the financial technology sector, market analysts’ ratings offer mixed perspectives for investors looking to make informed decisions.
Additionally, the recent stock transaction involving CEO Kelly Rodriques highlights internal changes within the company. Investors will need to carefully weigh various factors before investing in Forge Global amidst its developments and ongoing industry transformations.
On September 13th, Forge Global opened trading at $2.16 with a market capitalization of $375.59 million. The firm maintains a price-to-earnings ratio of -4.07 and exhibits a beta value of 2.74—an indicator of higher-than-average risk compared to the overall market index. Its 50-day simple moving average stands at $2.55 while its 200-day simple moving average rests at $1.98. With a notable rise from its 52-week low of $1.10, Forge Global reached its 52-week high at $4.46.