US Bancorp DE Sells 140,000 Shares of Forge Global Holdings, Inc. (NYSE:FRGE)

US Bancorp DE decreased its stake in shares of Forge Global Holdings, Inc. (NYSE:FRGE) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,704,701 shares of the company’s stock after selling 140,000 shares during the quarter. US Bancorp DE owned about 2.00% of Forge Global worth $3,449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new position in shares of Forge Global during the fourth quarter worth $226,000. SG Americas Securities LLC raised its stake in Forge Global by 167.3% during the fourth quarter. SG Americas Securities LLC now owns 65,361 shares of the company’s stock valued at $61,000 after purchasing an additional 40,908 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in Forge Global by 116.8% during the fourth quarter. Miracle Mile Advisors LLC now owns 86,700 shares of the company’s stock valued at $81,000 after purchasing an additional 46,700 shares in the last quarter. Barclays PLC raised its stake in Forge Global by 278.5% during the third quarter. Barclays PLC now owns 150,241 shares of the company’s stock valued at $197,000 after purchasing an additional 110,549 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Forge Global by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,619,886 shares of the company’s stock valued at $3,433,000 after purchasing an additional 18,913 shares in the last quarter. Institutional investors own 40.67% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Forge Global in a research note on Tuesday, January 7th.

Insider Activity

In other news, CEO Kelly Rodriques sold 25,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $1.04, for a total value of $26,000.00. Following the sale, the chief executive officer now owns 8,153,110 shares of the company’s stock, valued at approximately $8,479,234.40. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Jennifer Phillips sold 159,108 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.00, for a total transaction of $159,108.00. Following the completion of the sale, the executive now directly owns 604,728 shares in the company, valued at approximately $604,728. This represents a 20.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,508 shares of company stock valued at $226,508. 9.84% of the stock is currently owned by company insiders.

Forge Global Stock Down 4.8 %

Forge Global stock opened at $0.85 on Thursday. Forge Global Holdings, Inc. has a 52-week low of $0.70 and a 52-week high of $3.56. The company has a market cap of $158.02 million, a price-to-earnings ratio of -1.97 and a beta of 2.30. The firm’s fifty day moving average is $0.84 and its 200 day moving average is $1.07.

Forge Global declared that its board has approved a stock buyback program on Wednesday, March 5th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.