Forge Global (NYSE:FRGE) Given “Market Outperform” Rating at JMP Securities

Forge Global (NYSE:FRGE)‘s stock had its “market outperform” rating restated 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 objective indicates a potential upside of 246.53% from the stock’s previous close.

Separately, Oppenheimer reissued an “outperform” rating and set a $3.50 price objective on shares of Forge Global in a research report on Wednesday.

Forge Global Trading Down 2.9 %

FRGE stock traded down $0.06 during midday trading on Thursday, reaching $2.02. The stock had a trading volume of 380,606 shares, compared to its average volume of 702,650. Forge Global has a 52-week low of $1.10 and a 52-week high of $4.02. The company has a market cap of $354.05 million, a price-to-earnings ratio of -3.96 and a beta of 2.60. The company’s fifty day simple moving average is $1.94 and its 200 day simple moving average is $2.44.

Insider Buying and Selling at Forge Global

In other news, CEO Kelly Rodriques sold 40,000 shares of Forge Global stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $3.15, for a total value of $126,000.00. Following the completion of the transaction, the chief executive officer now owns 10,412,826 shares in the company, valued at approximately $32,800,401.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 114,818 shares of company stock valued at $269,377 in the last three months. 11.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Forge Global

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. acquired a new position in Forge Global in the first quarter valued at approximately $28,000. Ergoteles LLC acquired a new position in Forge Global in the first quarter valued at approximately $783,000. Penserra Capital Management LLC acquired a new position in Forge Global in the first quarter valued at approximately $193,000. Renaissance Technologies LLC acquired a new position in Forge Global in the first quarter valued at approximately $2,426,000. Finally, State Street Corp acquired a new position in Forge Global in the first quarter valued at approximately $268,000. Hedge funds and other institutional investors own 40.67% of the company’s stock.

About Forge Global

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.