US Bancorp DE Trims Position in Forge Global Holdings, Inc. (NYSE:FRGE)

US Bancorp DE lessened its stake in Forge Global Holdings, Inc. (NYSE:FRGE) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,704,701 shares of the company’s stock after selling 140,000 shares during the period. US Bancorp DE’s holdings in Forge Global were worth $3,449,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Forge Global by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,619,886 shares of the company’s stock worth $3,433,000 after acquiring an additional 18,913 shares in the last quarter. State Street Corp boosted its stake in Forge Global by 1.2% in the 3rd quarter. State Street Corp now owns 2,263,898 shares of the company’s stock worth $2,966,000 after purchasing an additional 25,833 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Forge Global by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 965,837 shares of the company’s stock worth $1,265,000 after purchasing an additional 36,913 shares in the last quarter. SG Americas Securities LLC boosted its stake in Forge Global by 167.3% in the 4th quarter. SG Americas Securities LLC now owns 65,361 shares of the company’s stock worth $61,000 after purchasing an additional 40,908 shares in the last quarter. Finally, Miracle Mile Advisors LLC boosted its stake in Forge Global by 116.8% in the 4th quarter. Miracle Mile Advisors LLC now owns 86,700 shares of the company’s stock worth $81,000 after purchasing an additional 46,700 shares in the last quarter. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Insider Activity at Forge Global

In related news, CEO Kelly Rodriques sold 50,000 shares of Forge Global stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $0.80, for a total value of $40,000.00. Following the sale, the chief executive officer now owns 8,030,213 shares of the company’s stock, valued at approximately $6,424,170.40. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jennifer Phillips sold 159,108 shares of Forge Global stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.00, for a total transaction of $159,108.00. Following the completion of the sale, the executive now directly owns 604,728 shares in the company, valued at $604,728. This represents a 20.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,508 shares of company stock valued at $226,508. 9.84% of the stock is owned by company insiders.

Forge Global Stock Performance

Forge Global stock opened at $0.85 on Thursday. The company’s fifty day moving average price is $0.84 and its 200 day moving average price is $1.07. Forge Global Holdings, Inc. has a 1 year low of $0.70 and a 1 year high of $3.56. The stock has a market capitalization of $158.02 million, a P/E ratio of -1.97 and a beta of 2.30.

Forge Global announced that its Board of Directors has initiated a stock repurchase program on Wednesday, March 5th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Forge Global in a research report on Tuesday, January 7th.

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.