SAN FRANCISCO--(BUSINESS WIRE)--Forge Global Holdings, Inc. ("Forge†) (NYSE: FRGE), a leading provider of marketplace infrastructure, data services, and technology and investment solutions for the private market, today announced that Forge's stockholders approved all proposals related to the previously announced acquisition of Forge by The Charles Schwab Corporation ("Schwab†). A total of 9,687,311 shares of Forge's common stock were represented in person or by proxy at Forge's special stockhol. ...

Core Viewpoint - Forge Global, Inc. has been appointed as the Liquidating Trustee for the Liquidating Trust that will manage customer-linked assets following Linqto, Inc.'s Chapter 11 proceedings [1][2]. Group 1: Appointment and Responsibilities - Forge will administer assets on behalf of former Linqto customers through structures established under Linqto's reorganization plan, pending final court approval [2][4]. - The company emphasizes its commitment to protecting and managing these customer holdings effectively, leveraging its experience in regulated private market infrastructure [3]. Group 2: Company Background and Experience - Forge has facilitated over $18 billion in private market transactions and currently manages billions of dollars in assets across various investment vehicles and custodial accounts [3]. - The company operates as a registered broker-dealer and is a member of FINRA, providing marketplace infrastructure, data services, and investment solutions for private market participants [5]. Group 3: Customer Engagement and Communication - Customers will have options for managing their interests as outlined in Linqto's confirmed reorganization plan, with Forge ensuring smooth transitions and ongoing communication [4].

NEW YORK and NEW ORLEANS, Jan. 7, 2026 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of Forge Global Holdings, Inc. (NYSE: FRGE) to The Charles Schwab Corporation. Under the terms of the proposed transaction, shareholders of Forge will receive $45.00 in cash for each share of Forge that they own. KSF is seeking to determine whether this consideration and the process that led to it are ad ...

Core Insights - Two stocks in the financial sector are signaling potential warnings for momentum-focused investors as of December 1, 2025 [1] Group 1: Stock Performance and Analysis - Forge Global Holdings Inc (NYSE:FRGE) has seen a stock price increase of approximately 90% over the past month, reaching a 52-week high of $44.76, with an RSI value of 87.7, indicating it is overbought [6] - Mercury General Corp (NYSE:MCY) reported better-than-expected quarterly earnings, resulting in a stock price increase of around 22% over the past month, with a 52-week high of $95.00 and an RSI value of 75.2, also indicating it is overbought [6] Group 2: Analyst Ratings and Price Targets - UBS analyst Alex Kramm downgraded Forge Global from Buy to Neutral while raising the price target from $34 to $45 [6] - The current price action for Forge Global shows shares closing at $44.36, while Mercury General's shares closed at $93.12 after a slight decline of 0.3% [6]

Core Insights - Forge Global Holdings, Inc. reported $21.26 million in revenue for Q3 2025, a year-over-year increase of 10.6% [1] - The EPS for the same period was -$1.35, an improvement from -$1.50 a year ago [1] - Revenue fell short of the Zacks Consensus Estimate by 20.52%, which was $26.75 million [1] - The EPS also missed the consensus estimate of -$1.01 by 33.66% [1] Financial Performance - Key metrics indicate that Forge Global's shares have returned +155.4% over the past month, significantly outperforming the Zacks S&P 500 composite's +1.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3] Revenue Breakdown - Trading Solutions reported 875 trades, slightly below the two-analyst average estimate of 878 [4] - Custodial administration fees generated $9.1 million, close to the average estimate of $9.16 million [4] - Marketplace revenues were $12.16 million, significantly lower than the estimated $16.78 million [4]

Core Insights - Two stocks in the financial sector are signaling potential warnings for momentum-focused investors as of November 14, 2025 [1] Company Summaries - **Forge Global Holdings Inc (NYSE:FRGE)**: - UBS analyst Alex Kramm downgraded the stock from Buy to Neutral while raising the price target from $34 to $45 - The stock has surged approximately 150% over the past month, reaching a 52-week high of $44.76 - The RSI value is at 88, indicating overbought conditions - On the latest trading day, shares fell 0.7% to close at $44.11 - The stock has a momentum score of 98.16 [3][7] - **Heritage Insurance Holdings Inc (NYSE:HRTG)**: - The company reported third-quarter EPS of $1.63 on sales of $195.1 million - CEO Ernie Garateix highlighted successful strategic initiatives leading to an increase in earnings trajectory since late 2023 - The stock has gained around 10% over the past five days, with a 52-week high of $31.10 - The RSI value is at 74.9, also indicating overbought conditions - Shares rose 3.4% to close at $30.84 on the latest trading day [4][7]

Group 1 - As of November 14, 2025, two stocks in the financial sector are identified as potentially overbought, which may concern momentum-focused investors [1] - The Relative Strength Index (RSI) is highlighted as a key momentum indicator, with a value above 70 indicating that a stock may be overbought [2] Group 2 - Forge Global Holdings Inc (NYSE:FRGE) has seen a stock price increase of approximately 150% over the past month, with a current RSI value of 88 and a recent closing price of $44.11 [7] - UBS analyst Alex Kramm downgraded Forge Global Holdings from Buy to Neutral, while raising the price target from $34 to $45 [7] - Heritage Insurance Holdings Inc (NYSE:HRTG) reported third-quarter EPS of $1.63 on sales of $195.1 million, with a recent stock price increase of 10% over the past five days and a closing price of $30.84 [7] - The CEO of Heritage Insurance noted that the company has focused on disciplined underwriting and quality customer service, leading to significant earnings power and record in-force premiums [7]

Core Viewpoint - Forge Global Holdings, Inc. is experiencing a shift in analyst sentiment, with a new price target set at $10, indicating a cautious near-term outlook despite a stable long-term view [2][6]. Company Overview - Forge Global, founded in 2014 and based in San Francisco, provides infrastructure and technology solutions for private market participants, facilitating the trading of private company shares [1]. Price Target and Analyst Sentiment - The consensus price target for Forge Global has remained stable at $50 over the past year, but JMP Securities has recently adjusted it to $10, reflecting a more cautious view on the company's near-term prospects [2][6]. - Despite the stable historical price target, Forge Global's stock saw an 11.6% increase in price, driven by higher-than-average trading volume, indicating short-term market dynamics are influencing performance [3][6]. Upcoming Earnings Report - Forge Global is set to release its third-quarter 2025 earnings, with analysts expecting a loss of $1.03 per share and revenue of $24 million, which will be crucial for assessing the company's financial health [4][6]. Future Outlook - The company maintains a "Buy" rating, with expectations to achieve EBITDA-positive status by 2026, supported by strategic initiatives such as a partnership with Silicon Valley Bank and expansion into the European market [5].

Financial Performance - Forge's marketplace solutions reported 875 trades in Q3 2025, a decrease of 52% from 927 trades in Q2 2025, while the volume decreased to $423.3 million from $756.1 million[142]. - Total revenues, less transaction-based expenses decreased by $6.6 million, or 24% in Q3 2025 compared to Q2 2025[173]. - Marketplace revenue decreased by $6.4 million, or 35%, driven by a 44% decrease in trading volume, despite a 40 basis point increase in net take rate[174]. - Total revenues, less transaction-based expenses increased by $13.3 million, or 22% in the nine months ended September 30, 2025 compared to the same period in 2024[175]. - Marketplace revenue increased by $17.8 million, or 62%, driven by an 82% increase in trading volume, offset by a 30 basis point decrease in net take rate[176]. - Adjusted EBITDA for Q3 2025 was $(11,556) thousand, compared to $(5,433) thousand in Q2 2025[149]. - Net loss attributable to Forge Global Holdings, Inc. for Q3 2025 was $(18,223) thousand, compared to $(12,580) thousand in Q2 2025[170]. - Adjusted EPS for Q3 2025 was $(1.40), compared to $(0.99) in Q2 2025[151]. Custodial Accounts and Assets - Total custodial accounts reached 2,703,045 as of September 30, 2025, an increase of 104,199 accounts from 2,598,846 in Q2 2025, and up 421,069 from 2,281,976 in Q3 2024[143]. - Assets under custody increased to $18.45 billion as of September 30, 2025, up $315.0 million from $18.13 billion in Q2 2025, and up $1.83 billion from $16.62 billion in Q3 2024[143]. - Custodial client cash stood at $454.4 million as of September 30, 2025, reflecting an increase of $14.1 million from $440.3 million in Q2 2025, but a decrease of $15.3 million from $469.7 million in Q3 2024[143]. Merger and Strategic Initiatives - The company entered into a merger agreement with The Charles Schwab Corporation, with each share of Forge common stock to be converted into $45.00 in cash at the effective time of the merger[129]. - The merger is expected to close in the first half of 2026, pending customary closing conditions and regulatory approvals[132]. - The company may require additional capital resources to execute strategic initiatives for growth, depending on various factors including growth rate and spending on platform development[198]. Operating Expenses - Total operating expenses for Q3 2025 were $41,521 thousand, compared to $40,419 thousand in Q2 2025[170]. - Compensation and benefits expense for Q3 2025 was $26,396 thousand, slightly down from $27,193 thousand in Q2 2025[170]. - Total compensation and benefits expense decreased by $2.1 million, or 8%, quarter-over-quarter, and by $9.3 million, or 10%, year-over-year[179][180]. - Salary expense decreased by $5.3 million, or 12%, due to cost initiatives implemented in the second half of 2024[180]. - Other operating expenses increased by $1.9 million, or 14%, quarter-over-quarter, and by $3.9 million, or 10.6%, year-over-year[183][185]. Cash Flow and Liquidity - As of September 30, 2025, cash and cash equivalents totaled $32.3 million, with investments of $28.4 million, indicating sufficient liquidity for the next twelve months[195][196]. - Cash used in operating activities for the nine months ended September 30, 2025 was $31.96 million, primarily due to a net loss of $46.8 million[203]. - Cash used in investing activities for the nine months ended September 30, 2025 was $36.96 million, primarily driven by investments of excess corporate cash balances[205]. - Cash used in financing activities was $5.0 million for the nine months ended September 30, 2025, compared to $3.4 million for the same period in 2024, primarily related to share repurchases and equity award activities[206]. Goodwill and Accounting Policies - No impairment charges were recognized during the nine months ended September 30, 2025, and September 30, 2024, indicating stable goodwill assessments[212]. - The company performed its annual goodwill impairment test on October 1, 2024, and a qualitative assessment as of September 30, 2025, concluding that fair value exceeded carrying value[212]. - There have been no material changes to critical accounting policies and estimates compared to the previous Annual Report[213]. - The company is classified as a smaller reporting company and is not required to provide extensive market risk disclosures[215]. Market Trends - The company emphasizes the importance of market trends, including supply and demand for private company shares, which are influenced by IPOs and mergers and acquisitions activity[134]. - Forge's asset management solution aims to enhance investment efficiency through single asset funds focused on private companies[126].

Financial Reporting - Forge Global Holdings, Inc. posted supplemental financial information for Q3 2025 on November 13, 2025[4] - The financial results presentation is available on the company's investor relations website[4] - The report is not deemed "filed" under the Securities Exchange Act of 1934, indicating it is for informational purposes only[5] - The report includes key business metrics related to the quarter ended September 30, 2025[4] - The document includes an exhibit labeled "Supplemental Investor Information" for further details[6] - The report was signed by CEO Kelly Rodriques, indicating executive approval[10] Company Information - The company is registered under the ticker symbol FRGE on the NYSE[2] - The company is incorporated in Delaware and has a principal office in San Francisco, California[1] Business Operations - The report does not indicate any new product launches or market expansions in the current summary[4] - There is no mention of future guidance or performance outlook in the provided content[4]