Douglass Winthrop Advisors LLC Trims Stock Holdings in Forge Global Holdings, Inc. (NYSE:FRGE)

Douglass Winthrop Advisors LLC cut its holdings in shares of Forge Global Holdings, Inc. (NYSE:FRGE) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,449,822 shares of the company’s stock after selling 165,000 shares during the period. Douglass Winthrop Advisors LLC owned 2.41% of Forge Global worth $4,142,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Los Angeles Capital Management LLC purchased a new position in Forge Global during the 4th quarter worth $226,000. Barclays PLC boosted its stake in shares of Forge Global by 278.5% during the third quarter. Barclays PLC now owns 150,241 shares of the company’s stock worth $197,000 after buying an additional 110,549 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Forge Global during the third quarter worth about $96,000. Miracle Mile Advisors LLC grew its holdings in shares of Forge Global by 116.8% during the fourth quarter. Miracle Mile Advisors LLC now owns 86,700 shares of the company’s stock worth $81,000 after buying an additional 46,700 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in Forge Global by 361.3% in the 4th quarter. Intech Investment Management LLC now owns 55,500 shares of the company’s stock valued at $52,000 after acquiring an additional 43,468 shares during the period. 40.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Forge Global news, CEO Kelly Rodriques sold 50,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $0.80, for a total transaction of $40,000.00. Following the sale, the chief executive officer now directly owns 8,030,213 shares in the company, valued at approximately $6,424,170.40. The trade was a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jennifer Phillips sold 159,108 shares of the stock in a transaction dated 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 transaction, the executive now owns 604,728 shares of the company’s stock, valued at $604,728. This represents a 20.83 % decrease in their position. The disclosure for this sale can be found here. 7.22% of the stock is currently owned by corporate insiders.

Forge Global Stock Performance

FRGE stock opened at $0.61 on Friday. The stock has a market capitalization of $114.58 million, a PE ratio of -1.42 and a beta of 2.21. The company has a fifty day moving average of $0.78 and a 200-day moving average of $1.01. Forge Global Holdings, Inc. has a one year low of $0.55 and a one year high of $3.56.

Forge Global declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 5th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

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

About Forge Global

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.