Forge Global Holdings, Inc. (NYSE:FRGE) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Forge Global Holdings, Inc. (NYSE:FRGE) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $42.00.

Several research analysts recently commented on the stock. Citigroup downgraded shares of Forge Global from an “outperform” rating to a “market perform” rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forge Global in a research report on Wednesday, October 8th. Wall Street Zen upgraded Forge Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. UBS Group downgraded Forge Global from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $34.00 to $45.00 in a report on Tuesday, November 11th. Finally, Piper Sandler lowered Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Thursday, November 6th.

Forge Global Stock Performance

Shares of FRGE stock opened at $44.66 on Friday. The stock has a 50 day moving average price of $43.24 and a 200 day moving average price of $27.01. Forge Global has a 52-week low of $6.60 and a 52-week high of $44.88. The firm has a market capitalization of $607.31 million, a P/E ratio of -8.59 and a beta of 2.18.

Hedge Funds Weigh In On Forge Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Forge Global by 5.8% in the third quarter. Vanguard Group Inc. now owns 433,969 shares of the company’s stock valued at $7,334,000 after buying an additional 23,952 shares in the last quarter. AQR Capital Management LLC raised its position in Forge Global by 305.0% during the first quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock worth $109,000 after acquiring an additional 146,565 shares during the period. Millennium Management LLC lifted its holdings in Forge Global by 220.7% during the third quarter. Millennium Management LLC now owns 188,260 shares of the company’s stock valued at $3,182,000 after purchasing an additional 129,559 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Forge Global by 11.8% in the third quarter. Raymond James Financial Inc. now owns 111,006 shares of the company’s stock valued at $1,876,000 after purchasing an additional 11,672 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Forge Global by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock worth $39,000 after purchasing an additional 2,964 shares in the last quarter. Hedge funds and other institutional investors own 40.67% of the company’s stock.

About Forge Global

Forge Global is a financial technology company that operates a digital marketplace for trading shares in private companies. The platform connects shareholders, including employees and early investors, with accredited and institutional buyers seeking exposure to late-stage private ventures ahead of their initial public offerings. By facilitating secondary transactions, Forge Global aims to provide liquidity solutions that traditionally have been limited in private markets.

The company’s core services include trade execution, settlement, and custody for pre-IPO securities, supported by an integrated suite of portfolio management and data-analytics tools.