Forge Global (NYSE:FRGE) Stock Rating Reaffirmed by JMP Securities

Forge Global (NYSE:FRGE)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a research note issued on Thursday, Benzinga reports. They presently have a $7.00 price objective on the stock. JMP Securities’ price target would indicate a potential upside of 246.53% from the stock’s current price.

Separately, Oppenheimer restated an “outperform” rating and issued a $3.50 target price on shares of Forge Global in a research note on Wednesday.

Forge Global Trading Down 2.9 %

Forge Global stock traded down $0.06 during midday trading on Thursday, hitting $2.02. The stock had a trading volume of 380,606 shares, compared to its average volume of 702,650. The stock has a market cap of $354.05 million, a P/E ratio of -3.96 and a beta of 2.60. Forge Global has a 12 month low of $1.10 and a 12 month high of $4.02. The business has a fifty day moving average price of $1.94 and a 200 day moving average price of $2.44.

Insider Transactions at Forge Global

In other Forge Global news, CEO Kelly Rodriques sold 24,818 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $1.77, for a total value of $43,927.86. Following the completion of the sale, the chief executive officer now directly owns 10,139,507 shares in the company, valued at $17,946,927.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 114,818 shares of company stock worth $269,377. Company insiders own 11.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Barclays PLC bought a new position in shares of Forge Global in the second quarter valued at $83,000. Principal Financial Group Inc. bought a new position in shares of Forge Global in the second quarter valued at $28,000. SG Americas Securities LLC bought a new position in shares of Forge Global in the third quarter valued at $90,000. Ausdal Financial Partners Inc. bought a new position in shares of Forge Global in the fourth quarter valued at $71,000. Finally, Virtu Financial LLC bought a new position in shares of Forge Global in the fourth quarter valued at $289,000. Institutional investors own 40.67% of the company’s stock.

Forge Global Company Profile

Forge Global Holdings, Inc operates a financial services platform in California. The company offers trading solution, a platform that connects investors with private company shareholders and enables them to efficiently facilitate private share transactions; and custody solution, which enables clients to securely custody and manage assets.