TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price Passes Below 200 Day Moving Average – What’s Next?

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.20 and traded as low as $5.62. TriplePoint Venture Growth BDC shares last traded at $5.6840, with a volume of 334,883 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TPVG. 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. Wall Street Zen upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings upgraded TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 9th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, TriplePoint Venture Growth BDC presently has a consensus rating of “Reduce” and a consensus target price of $6.25.

TriplePoint Venture Growth BDC Price Performance

The firm has a market cap of $229.63 million, a P/E ratio of 6.69 and a beta of 1.36. The firm’s 50-day moving average price is $6.31 and its 200 day moving average price is $6.19.

Insider Activity at TriplePoint Venture Growth BDC

In other news, CEO James Labe acquired 23,799 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Monday, January 12th. The shares were purchased at an average cost of $6.66 per share, for a total transaction of $158,501.34. Following the completion of the purchase, the chief executive officer directly owned 1,998,489 shares of the company’s stock, valued at $13,309,936.74. This trade represents a 1.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sajal Srivastava bought 23,799 shares of the company’s stock in a transaction on Monday, January 12th. The shares were acquired at an average cost of $6.66 per share, for a total transaction of $158,501.34. Following the completion of the acquisition, the insider directly owned 1,998,489 shares of the company’s stock, valued at $13,309,936.74. This trade represents a 1.21% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 2,071,300 shares of company stock worth $13,292,127. Corporate insiders own 1.46% of the company’s stock.

Institutional Trading of TriplePoint Venture Growth BDC

A number of large investors have recently modified their holdings of TPVG. Jane Street Group LLC boosted its stake in TriplePoint Venture Growth BDC by 28.1% during the 1st quarter. Jane Street Group LLC now owns 67,693 shares of the investment management company’s stock valued at $472,000 after purchasing an additional 14,865 shares during the period. Kovack Advisors Inc. boosted its position in shares of TriplePoint Venture Growth BDC by 10.5% during the second quarter. Kovack Advisors Inc. now owns 50,319 shares of the investment management company’s stock worth $353,000 after buying an additional 4,800 shares during the period. Ethos Financial Group LLC grew its holdings in TriplePoint Venture Growth BDC by 84.9% in the 2nd quarter. Ethos Financial Group LLC now owns 46,627 shares of the investment management company’s stock worth $327,000 after buying an additional 21,411 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in TriplePoint Venture Growth BDC in the 2nd quarter valued at approximately $131,000. Finally, Samalin Investment Counsel LLC raised its stake in TriplePoint Venture Growth BDC by 13.1% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.