Forge Global (NYSE:FRGE) Given Outperform Rating at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Forge Global (NYSE:FRGE) in a report released on Wednesday morning, Benzinga reports. Oppenheimer currently has a $3.50 target price on the stock.

Forge Global Stock Performance

Shares of Forge Global stock opened at $2.08 on Wednesday. Forge Global has a 52 week low of $1.10 and a 52 week high of $4.02. The stock has a 50 day moving average price of $1.94 and a two-hundred day moving average price of $2.44. The stock has a market capitalization of $364.56 million, a PE ratio of -4.00 and a beta of 2.60.

Insider Activity

In other news, CEO Kelly Rodriques sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $3.15, for a total value of $126,000.00. Following the transaction, the chief executive officer now owns 10,412,826 shares in the company, valued at $32,800,401.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 114,818 shares of company stock worth $269,377 over the last 90 days. 11.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Forge Global

Hedge funds have recently bought and sold shares of the business. Citigroup Inc. bought a new stake in Forge Global during the first quarter worth $28,000. Penserra Capital Management LLC bought a new stake in shares of Forge Global in the first quarter valued at $193,000. State Street Corp bought a new stake in shares of Forge Global in the first quarter valued at $268,000. Virtu Financial LLC bought a new stake in shares of Forge Global in the first quarter valued at $340,000. Finally, Alliancebernstein L.P. bought a new stake in shares of Forge Global in the second quarter valued at $25,000. 40.67% of the stock is currently owned by institutional investors.

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.