Douglass Winthrop Advisors LLC Cuts Stock Position in Forge Global Holdings, Inc. (NYSE:FRGE)

Douglass Winthrop Advisors LLC trimmed its position in Forge Global Holdings, Inc. (NYSE:FRGE) by 8.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,614,822 shares of the company’s stock after selling 425,000 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Forge Global were worth $6,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Forge Global in the third quarter valued at about $32,000. Norden Group LLC purchased a new stake in shares of Forge Global in the second quarter valued at approximately $53,000. Miracle Mile Advisors LLC raised its position in Forge Global by 166.7% in the second quarter. Miracle Mile Advisors LLC now owns 40,000 shares of the company’s stock worth $58,000 after acquiring an additional 25,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Forge Global by 29.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,686 shares of the company’s stock worth $66,000 after acquiring an additional 7,663 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Forge Global by 23.8% in the second quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock valued at $72,000 after acquiring an additional 9,406 shares during the period. 40.67% of the stock is owned by institutional investors and hedge funds.

Forge Global Stock Up 14.8 %

NYSE FRGE opened at $1.11 on Monday. The business has a 50 day moving average price of $1.20 and a 200 day moving average price of $1.39. Forge Global Holdings, Inc. has a 1-year low of $0.80 and a 1-year high of $4.02.

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

Insider Buying and Selling at Forge Global

In other Forge Global news, CEO Kelly Rodriques sold 18,405 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $1.36, for a total transaction of $25,030.80. Following the completion of the transaction, the chief executive officer now owns 8,600,995 shares of the company’s stock, valued at approximately $11,697,353.20. This trade represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Jennifer Phillips sold 38,916 shares of the business’s stock in a transaction dated 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 transaction, the executive now directly owns 879,581 shares of the company’s stock, valued at $1,064,293.01. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 368,363 shares of company stock worth $445,736. 9.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

About Forge Global

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.