Taking a look at what insiders are doing to gauge the ForgeRock Inc. (FORG)’s direction


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. ForgeRock Inc. shares valued at $2,472,860 were sold by Barker Peter M on Mar 06. At $20.24 per share, Barker Peter M sold 122,163 shares. The insider’s holdings dropped to 91,241 shares worth approximately $1.85 million following the completion of this transaction.

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Also, Rosch Francis C sold 40,538 shares, netting a total of over 801,975 in proceeds. Following the sale of shares at $19.78 each, the insider now holds 280,550 shares.

Before that, Fernandez Juan P had sold 18,600 shares from its account. In a trade valued at $367,969, the CFO, Executive VP – Global traded ForgeRock Inc. shares for $19.78 each. Upon closing the transaction, the insider’s holdings decreased to 18,600 shares, worth approximately $4.13 million.

As published in their initiating research note from Canaccord Genuity on September 30, 2022, ForgeRock Inc. [FORG] has been a Buy and the price target has been revised to $20. This represents a -1.45% premium over Wednesday’s closing price. Analysts at KeyBanc Capital Markets started covering the stock with ‘”a Sector weight”‘ outlook in a report released in early April. As of October 11, 2021, Truist has initiated its “Buy” rating for FORG. Earlier on October 11, 2021, Piper Sandler initiated its rating. Their recommendation was “an Overweight” for FORG stock.

Analyzing FORG Stock Performance

On Wednesday, ForgeRock Inc. [NYSE: FORG] rose 0.64% to $20.29. The stock’s lowest price that day was $20.07, but it reached a high of $20.33 in the same session. During the last five days, there has been a surge of approximately 1.25%. Over the course of the year, ForgeRock Inc. shares have dropped approximately -10.89%. Shares of the company reached a 52-week high of $22.79 on 01/03/23 and a 52-week low of $19.61 on 03/10/23. A 50-day SMA is recorded $20.30, while a 200-day SMA reached $20.37. Nevertheless, trading volume fell to 0.8 million shares from 0.6 million shares the previous day.

Support And Resistance Levels for ForgeRock Inc. (FORG)

According to the 24-hour chart, there is a support level at 20.13, which, if violated, would cause prices to drop to 19.97. In the upper region, resistance lies at 20.39. The next price resistance is at 20.49. RSI (Relative Strength Index) is 52.08 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.14, which suggests the price will decrease in the coming days. Percent R is at 29.90%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is ForgeRock Inc. subject to short interest?

Stocks of ForgeRock Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 3.59 million shares to 6.9 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 3.31 million shares. A jump of 52.03% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.91 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.91.

Which companies own the most shares of ForgeRock Inc. (FORG)?

According to The Vanguard Group, Inc. filings, the company currently owns 3,767,148 shares, which is about 7.81% of the total FORG shares outstanding. The investor’s shares have appreciated by 946,098 from its previous 13-F filing of 2821050.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $48,739,282. In its current portfolio, AQR Arbitrage LLC holds 930,205 shares valued at $19.01 million.

In terms of ForgeRock Inc. share price expectations, FactSet research, analysts set an average price target of $23.20 in the next 12 months, up nearly 15.33% from the previous closing price of $20.16. Analysts anticipate ForgeRock Inc. stock to reach $23.25 by 2023, with the lowest price target being $23.00. In spite of this, 8 analysts ranked ForgeRock Inc. stock as a Hold at the end of 2023. On October 11, 2021, Morgan Stanley assigned a price target of “an Equal-weight” to the stock and initiated coverage with a $35.


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