TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.25 Average Target Price from Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have received an average rating of “Reduce” from the seven ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $6.25.

TPVG has been the subject of several research analyst reports. UBS Group dropped their price target on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Piper Sandler dropped their target price on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Weiss Ratings cut shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Wall Street Zen raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th.

Insider Activity

In other TriplePoint Venture Growth BDC news, insider Sajal Srivastava bought 23,799 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were acquired at an average cost of $6.66 per share, with a total value of $158,501.34. Following the completion of the transaction, the insider owned 1,998,489 shares in the company, valued at $13,309,936.74. The trade was a 1.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Labe purchased 23,799 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Monday, January 12th. The stock was acquired at an average cost of $6.66 per share, with a total value of $158,501.34. Following the acquisition, the chief executive officer directly owned 1,998,489 shares of the company’s stock, valued at $13,309,936.74. The trade was a 1.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 2,316,934 shares of company stock valued at $14,747,460 in the last ninety days. Company insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently made changes to their positions in the business. Norden Group LLC boosted its stake in TriplePoint Venture Growth BDC by 36.4% during the 2nd quarter. Norden Group LLC now owns 56,848 shares of the investment management company’s stock valued at $399,000 after acquiring an additional 15,160 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of TriplePoint Venture Growth BDC by 23.2% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 40,380 shares of the investment management company’s stock worth $283,000 after purchasing an additional 7,600 shares during the last quarter. Samalin Investment Counsel LLC grew its stake in TriplePoint Venture Growth BDC by 13.1% in the second quarter. Samalin Investment Counsel LLC now owns 92,636 shares of the investment management company’s stock worth $649,000 after purchasing an additional 10,730 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in TriplePoint Venture Growth BDC in the second quarter valued at about $131,000. Finally, Ethos Financial Group LLC raised its stake in TriplePoint Venture Growth BDC by 84.9% during the second quarter. Ethos Financial Group LLC now owns 46,627 shares of the investment management company’s stock valued at $327,000 after buying an additional 21,411 shares in the last quarter. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Down 1.2%

Shares of TriplePoint Venture Growth BDC stock opened at $6.13 on Friday. The firm has a market cap of $247.45 million, a PE ratio of 7.21 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 $8.20. The business’s fifty day moving average is $6.46 and its two-hundred day moving average is $6.31.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, November 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The company had revenue of $22.66 million for the quarter, compared to analysts’ expectations of $24.22 million. TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. Equities research analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.