Forge Global (NYSE:FRGE) Shares Set to Reverse Split on Tuesday, April 15th

Shares of Forge Global Holdings, Inc. (NYSE:FRGE - Free Report) are set to reverse split on Tuesday, April 15th. The 1-15 reverse split was announced on Monday, March 31st. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, April 14th.

Forge Global Price Performance

FRGE traded up $0.14 during trading on Monday, reaching $0.63. 1,286,214 shares of the stock were exchanged, compared to its average volume of 534,576. Forge Global has a 1 year low of $0.44 and a 1 year high of $2.53. The company has a market capitalization of $119.28 million, a price-to-earnings ratio of -1.47 and a beta of 2.39. The business's 50 day moving average price is $0.75 and its two-hundred day moving average price is $0.94.

Forge Global declared that its board has authorized a stock buyback plan on Wednesday, March 5th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to repurchase up to 6.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Kelly Rodriques sold 50,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $0.80, for a total transaction of $40,000.00. Following the completion of the transaction, the chief executive officer now 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 legal filing with the SEC, which is available through this link. Also, CRO Jennifer Phillips sold 159,108 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.22% of the company's stock.

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Hedge Funds Weigh In On Forge Global

A number of large investors have recently bought and sold shares of FRGE. AWM Investment Company Inc. acquired a new stake in shares of Forge Global during the 4th quarter worth $409,000. ProShare Advisors LLC increased its stake in Forge Global by 51.3% during the fourth quarter. ProShare Advisors LLC now owns 32,807 shares of the company's stock worth $31,000 after acquiring an additional 11,126 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Forge Global in the 4th quarter worth about $37,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Forge Global in the 4th quarter valued at about $32,000. Finally, Deutsche Bank AG grew its holdings in shares of Forge Global by 438.1% during the 4th quarter. Deutsche Bank AG now owns 245,790 shares of the company's stock worth $229,000 after purchasing an additional 200,110 shares during the period. Hedge funds and other 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'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.