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SAN FRANCISCO—Jennifer Phillips, the Chief Revenue and Growth Officer of Forge Global Holdings, Inc. (NYSE:FRGE), has sold 16,150 shares of the company’s common stock, according to a recent SEC filing. The shares were sold at an average price of $15.1148, generating a total of $244,104. The company, currently valued at approximately $108 million, has shown revenue growth of ~14% over the last twelve months, despite challenging market conditions.
This transaction was conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks. The sales were executed in multiple trades at prices ranging from $15.00 to $15.62. Following this sale, Phillips retains ownership of 22,226 shares in the company. According to InvestingPro analysis, the stock appears undervalued at its current price of $8.69, though it has experienced significant volatility. Get access to 12 additional ProTips and comprehensive analysis with an InvestingPro subscription.
The transaction comes shortly after Forge Global Holdings executed a 1-for-15 reverse stock split on April 14, 2025, which adjusted the number of shares held by shareholders proportionately. The company maintains a healthy liquidity position with a current ratio of 4.74, indicating strong ability to meet short-term obligations.
In other recent news, Forge Global Holdings, Inc. has reported preliminary financial results for the first quarter of 2025, with estimated total revenues less transaction-based expenses expected to range between $24.9 million and $25.1 million, marking a record high since the company went public. This significant increase surpasses JMP analysts’ estimates by $6.1 million and the median consensus by $3.7 million. Additionally, Forge Global has announced a potential merger with Accuidity Capital Management, involving a $10 million cash payment and 1.15 million shares of Forge common stock, contingent on meeting specific milestones through 2027.
JMP analysts have maintained a Market Outperform rating on Forge Global with a price target of $4.00, while UBS analyst Alex Kramm has adjusted the price target to $2.00, down from $3.00, but continues to recommend a Buy rating. Forge Global has also announced a 1-for-15 reverse stock split to comply with the New York Stock Exchange’s minimum bid price requirement. This reverse stock split, effective April 15, 2025, will consolidate every fifteen shares into one new share.
Furthermore, Forge Global has partnered with Yahoo Finance to provide real-time pricing and valuation data for late-stage U.S. private companies, aiming to enhance investors’ ability to access and compare private company performance data. This partnership is part of Forge’s initiative to democratize private market investments and offer new products for retail investors, including the proposed Accuidity’s Megacorn Fund. These developments reflect Forge Global’s strategic moves to broaden its asset management offerings and investor access to private market data.
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