Forge Global (NYSE:FRGE) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Forge Global (NYSE:FRGE) in a report released on Tuesday morning, Benzinga reports. JMP Securities currently has a $7.00 target price on the stock.

Separately, Oppenheimer reiterated an outperform rating and issued a $3.50 target price on shares of Forge Global in a report on Wednesday, March 27th.

Forge Global Stock Up 1.4 %

Shares of FRGE stock opened at $2.24 on Tuesday. Forge Global has a 52-week low of $1.10 and a 52-week high of $4.02. The firm’s 50 day moving average price is $1.97 and its two-hundred day moving average price is $2.43.

Insiders Place Their Bets

In other Forge Global news, CEO Kelly Rodriques sold 27,566 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $1.98, for a total value of $54,580.68. Following the sale, the chief executive officer now directly owns 10,925,610 shares in the company, valued at $21,632,707.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 74,818 shares of company stock worth $143,377. Company insiders own 11.26% of the company’s stock.

Institutional Investors Weigh In On Forge Global

A number of hedge funds and other institutional investors have recently made changes to their positions in FRGE. Citigroup Inc. acquired a new stake in shares of Forge Global during the first quarter worth $28,000. Ergoteles LLC acquired a new stake in shares of Forge Global during the first quarter worth $783,000. Penserra Capital Management LLC acquired a new stake in shares of Forge Global during the first quarter worth $193,000. Renaissance Technologies LLC acquired a new stake in shares of Forge Global during the first quarter worth $2,426,000. Finally, State Street Corp acquired a new stake in shares of Forge Global during the first quarter worth $268,000. 40.67% of the stock is currently owned by institutional investors and hedge funds.

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.