TriplePoint Venture Growth BDC (NYSE:TPVG) Raised to “Hold” at Wall Street Zen

TriplePoint Venture Growth BDC (NYSE:TPVG) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other research firms also recently weighed in on TPVG. Zacks Research downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Piper Sandler dropped their price objective on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. UBS Group cut their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Monday, December 1st. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, TriplePoint Venture Growth BDC currently has an average rating of “Reduce” and a consensus price target of $6.25.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG stock opened at $6.74 on Friday. The stock’s fifty day moving average price is $5.84 and its two-hundred day moving average price is $6.44. The company has a market cap of $272.30 million, a PE ratio of 7.93 and a beta of 1.35. TriplePoint Venture Growth BDC has a fifty-two week low of $5.24 and a fifty-two week high of $8.33.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, November 5th. The investment management company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The business had revenue of $22.66 million for the quarter, compared to analyst estimates of $24.22 million. TriplePoint Venture Growth BDC had a return on equity of 12.88% and a net margin of 36.02%. On average, equities analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO James Labe purchased 47,713 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was bought at an average price of $6.62 per share, with a total value of $315,860.06. Following the completion of the purchase, the chief executive officer owned 1,270,479 shares in the company, valued at approximately $8,410,570.98. This represents a 3.90% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sajal Srivastava acquired 47,713 shares of the stock in a transaction dated Thursday, December 4th. The shares were bought at an average price of $6.62 per share, with a total value of $315,860.06. Following the completion of the transaction, the insider directly owned 1,270,479 shares of the company’s stock, valued at $8,410,570.98. The trade was a 3.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 998,752 shares of company stock valued at $6,207,152 over the last 90 days. 1.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP boosted its stake in shares of TriplePoint Venture Growth BDC by 58.6% in the 3rd quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock valued at $3,535,000 after purchasing an additional 226,479 shares during the last quarter. Marshall Wace LLP raised its stake in TriplePoint Venture Growth BDC by 44.9% during the second quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock worth $3,710,000 after buying an additional 163,916 shares during the last quarter. Legal & General Group Plc lifted its holdings in TriplePoint Venture Growth BDC by 4.5% in the second quarter. Legal & General Group Plc now owns 276,451 shares of the investment management company’s stock valued at $1,935,000 after buying an additional 11,965 shares during the period. Townsquare Capital LLC boosted its position in TriplePoint Venture Growth BDC by 20.6% during the first quarter. Townsquare Capital LLC now owns 102,318 shares of the investment management company’s stock valued at $714,000 after acquiring an additional 17,445 shares during the last quarter. Finally, Samalin Investment Counsel LLC boosted its position in TriplePoint Venture Growth BDC by 13.1% during the second quarter. Samalin Investment Counsel LLC now owns 92,636 shares of the investment management company’s stock valued at $649,000 after acquiring an additional 10,730 shares during the last quarter. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.