Forge Global (NYSE:FRGE) Hits New 12-Month High – Time to Buy?

Shares of Forge Global Holdings, Inc. (NYSE:FRGE) reached a new 52-week high during trading on Tuesday . The company traded as high as $44.79 and last traded at $44.6650, with a volume of 63468 shares. The stock had previously closed at $44.58.

Analysts Set New Price Targets

A number of analysts have weighed in on FRGE shares. Piper Sandler lowered shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Thursday, November 6th. UBS Group downgraded Forge Global from a “buy” rating to a “neutral” rating and raised their price objective for the company from $34.00 to $45.00 in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Forge Global in a report on Wednesday, October 8th. Citizens Jmp reiterated a “market perform” rating on shares of Forge Global in a research report on Friday, December 12th. Finally, Wall Street Zen upgraded shares of Forge Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $42.00.

Forge Global Price Performance

The stock has a fifty day simple moving average of $41.33 and a two-hundred day simple moving average of $26.32. The firm has a market capitalization of $610.34 million, a P/E ratio of -8.63 and a beta of 2.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of Forge Global by 303.8% during the third quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock valued at $36,000 after acquiring an additional 1,613 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Forge Global by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock valued at $39,000 after purchasing an additional 2,964 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in Forge Global during the 2nd quarter valued at $47,000. CWM LLC raised its holdings in Forge Global by 27.8% during the third quarter. CWM LLC now owns 4,409 shares of the company’s stock worth $75,000 after buying an additional 960 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Forge Global by 305.0% in the first quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock valued at $109,000 after buying an additional 146,565 shares in the last quarter. 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.