Douglass Winthrop Advisors LLC Lowers Stock Holdings in Forge Global Holdings, Inc. (NYSE:FRGE)

Douglass Winthrop Advisors LLC lessened its position in Forge Global Holdings, Inc. (NYSE:FRGE) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,614,822 shares of the company’s stock after selling 425,000 shares during the quarter. Douglass Winthrop Advisors LLC owned approximately 2.52% of Forge Global worth $6,045,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Forge Global by 1.7% during the first quarter. Vanguard Group Inc. now owns 5,539,496 shares of the company’s stock worth $10,691,000 after purchasing an additional 93,139 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Forge Global by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 965,837 shares of the company’s stock valued at $1,265,000 after purchasing an additional 36,913 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Forge Global by 23.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 373,341 shares of the company’s stock worth $545,000 after buying an additional 70,058 shares during the period. Interval Partners LP acquired a new stake in Forge Global during the 2nd quarter worth approximately $373,000. Finally, First Eagle Investment Management LLC lifted its holdings in Forge Global by 64.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 221,959 shares of the company’s stock worth $324,000 after buying an additional 86,959 shares in the last quarter. Institutional investors and hedge funds own 40.67% of the company’s stock.

Forge Global Stock Performance

Shares of FRGE opened at $1.11 on Monday. The firm’s fifty day simple moving average is $1.20 and its 200-day simple moving average is $1.39. Forge Global Holdings, Inc. has a twelve month low of $0.80 and a twelve month high of $4.02.

Forge Global (NYSE:FRGE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Forge Global had a negative return on equity of 29.04% and a negative net margin of 95.85%. The business had revenue of $19.22 million for the quarter, compared to analysts’ expectations of $22.80 million. Sell-side analysts anticipate that Forge Global Holdings, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Forge Global

In other news, CRO Jennifer Phillips sold 25,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $1.14, for a total value of $28,500.00. Following the completion of the sale, the executive now directly owns 829,581 shares of the company’s stock, valued at approximately $945,722.34. The trade was a 2.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kelly Rodriques sold 60,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $1.29, for a total value of $77,400.00. Following the completion of the sale, the chief executive officer now directly owns 8,827,772 shares of the company’s stock, valued at approximately $11,387,825.88. This trade represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 368,363 shares of company stock valued at $445,736 over the last three months. 9.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, UBS Group raised Forge Global from a “neutral” rating to a “buy” rating and set a $3.00 price objective on the stock in a research report on Tuesday, September 3rd.

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.