Gamco Investors INC. ET AL acquired a new stake in shares of Forge Global Holdings, Inc. (NYSE:FRGE – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 66,000 shares of the company’s stock, valued at approximately $2,941,000.
A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Forge Global by 5.8% during the third quarter. Vanguard Group Inc. now owns 433,969 shares of the company’s stock valued at $7,334,000 after purchasing an additional 23,952 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Forge Global by 305.0% during the first quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock valued at $109,000 after purchasing an additional 146,565 shares in the last quarter. Millennium Management LLC grew its position in shares of 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% during 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 in the last quarter. Finally, ABC Arbitrage SA purchased a new position in shares of Forge Global during the fourth quarter valued at about $4,213,000. Hedge funds and other institutional investors own 40.67% of the company’s stock.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Forge Global in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $45.00.
Forge Global Stock Performance
FRGE opened at $45.00 on Thursday. The firm has a market cap of $623.03 million, a P/E ratio of -8.65 and a beta of 2.18. Forge Global Holdings, Inc. has a 12 month low of $6.60 and a 12 month high of $45.03. The stock has a 50-day moving average of $45.00 and a 200 day moving average of $44.13.
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.
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