Forge Global (NYSE:FRGE) Shares Down 2.6% - Here's Why

Forge Global Holdings, Inc. (NYSE:FRGE - Get Free Report) shares were down 2.6% during mid-day trading on Wednesday . The stock traded as low as $0.76 and last traded at $0.82. Approximately 693,582 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 623,680 shares. The stock had previously closed at $0.84.

Analyst Ratings Changes

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

Forge Global Trading Up 7.3 %

The company has a market capitalization of $169.84 million, a price-to-earnings ratio of -2.13 and a beta of 2.30. The firm's 50 day simple moving average is $0.86 and its 200-day simple moving average is $1.10.

Insider Transactions at Forge Global

In other news, CEO Kelly Rodriques sold 50,000 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $0.80, for a total transaction of $40,000.00. Following the transaction, the chief executive officer now directly owns 8,030,213 shares of the company's stock, valued at $6,424,170.40. This represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 190,265 shares of company stock valued at $181,042 in the last ninety days. 9.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Forge Global

Several institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its position in shares of Forge Global by 23.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company's stock worth $72,000 after buying an additional 9,406 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Forge Global by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,583,455 shares of the company's stock worth $2,405,000 after buying an additional 15,695 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in shares of Forge Global by 9.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 185,010 shares of the company's stock worth $172,000 after buying an additional 16,485 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Forge Global by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,619,886 shares of the company's stock worth $3,433,000 after buying an additional 18,913 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Forge Global in the 3rd quarter worth about $32,000. 40.67% of the stock is currently owned by hedge funds and other institutional investors.

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.