Forge Global CEO Kelly Rodriques sells $40,205 in stock By Investing.com

SAN FRANCISCO — Forge Global Holdings, Inc. (NYSE:FRGE) Chief Executive Officer Kelly Rodriquez recently sold 50,000 shares of the company’s common stock at a weighted average price of $0.8041, amounting to a total transaction of $40,205. : The trade occurs when the stock is trading near its 52-week low to $0.70, down nearly 60% over the past year InvestingPro: analysis, the company currently shows signs of being undervalued.

Following this sale, Rodriquez retains direct ownership of 8,030,213 shares. Additionally, he has indirect ownership of shares through various entities, including 69,772 shares owned by Pensco Trust Co. LLC custodian to FBO Kelly Rodriques Roth IRA, 1,596,734 shares by Operative Capital SPV I, LLC and 689,045 shares by Operative.The $143 million market cap company maintains strong liquidity at a current ratio of 5.37x.

The transaction was conducted under a Rule 10b5-1 trading plan, which allows company insiders to create a predetermined plan to sell the company’s stock, providing positive protection against insider trading allegations InvestingPro:where you’ll find a comprehensive analysis in our Pro Research Report.

In other recent news, Forge Global Holdings Inc. has undergone significant changes and developments.Forge recently announced the appointment of James Nevin, former CEO London Stock Exchange Group (LON: ) as its new Chief Financial Officer This follows the transition of Mark Lee, who will now focus on strategic finance and wealth initiatives as Forge’s Head of Strategic Wealth Solutions.

Forge also reported its financial results for the third quarter of fiscal 2024, led by CEO Kelly Rodriquez and CFO Mark Lee. contains forward-looking statements that reflect current expectations regarding future events and financial performance.

In terms of analyst notes, analysts at JPMorgan downgraded shares of Forge Global Holdings Inc. to Underweight, citing a lack of near-term catalysts and continued pressure on volumes that could delay the company’s path to profitability , a strong position to take advantage of growing private market assets under management, JPMorgan expressed concern about the near term.

Finally, Forge faces significant financial challenges with an EBITDA of -$82.2 million over the past twelve months and a market capitalization of about $146 million. Despite these challenges, the company maintains a solid liquidity position with a current ratio of 5.37 are developments that provide investors with valuable insights into Forge’s operations and performance.

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