Q3 2024 Earnings Forecast for Forge Global Holdings, Inc. (NYSE:FRGE) Issued By William Blair

Forge Global Holdings, Inc. (NYSE:FRGE) – Investment analysts at William Blair dropped their Q3 2024 EPS estimates for shares of Forge Global in a report released on Thursday, August 8th. William Blair analyst J. Schmitt now forecasts that the company will post earnings of ($0.10) per share for the quarter, down from their prior estimate of ($0.09). The consensus estimate for Forge Global’s current full-year earnings is ($0.42) per share. William Blair also issued estimates for Forge Global’s Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.35) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.22) EPS.

Forge Global Stock Up 9.8 %

Shares of Forge Global stock opened at $1.34 on Monday. The company has a market cap of $242.59 million, a PE ratio of -2.68 and a beta of 2.39. Forge Global has a 52 week low of $1.17 and a 52 week high of $4.02. The business has a 50 day moving average price of $1.45 and a 200-day moving average price of $1.75.

Forge Global (NYSE:FRGE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.04. The business had revenue of $22.28 million for the quarter, compared to analysts’ expectations of $20.24 million. Forge Global had a negative net margin of 119.12% and a negative return on equity of 29.55%. During the same quarter last year, the firm earned ($0.12) EPS.

Institutional Trading of Forge Global

Large investors have recently added to or reduced their stakes in the stock. Abacus Wealth Partners LLC grew its stake in shares of Forge Global by 107.3% during the 4th quarter. Abacus Wealth Partners LLC now owns 942,866 shares of the company’s stock worth $3,234,000 after acquiring an additional 487,959 shares during the period. Swiss National Bank bought a new stake in shares of Forge Global in the fourth quarter valued at approximately $766,000. First Eagle Investment Management LLC bought a new position in Forge Global in the 1st quarter worth approximately $261,000. Vanguard Group Inc. grew its stake in Forge Global by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 5,539,496 shares of the company’s stock valued at $10,691,000 after buying an additional 93,139 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Forge Global during the 4th quarter valued at $289,000. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Insider Activity at Forge Global

In related news, CEO Kelly Rodriques sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $1.53, for a total transaction of $38,250.00. Following the transaction, the chief executive officer now directly owns 10,259,336 shares of the company’s stock, valued at $15,696,784.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 722,079 shares of company stock valued at $1,016,329. 9.84% of the stock is owned by insiders.

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.