TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

According to Zacks, “TriplePoint Venture Growth BDC Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries backed by a select group of leading venture capital investors. TriplePoint Venture Growth BDC Corp. is based in United States. “

Separately, Compass Point raised TriplePoint Venture Growth BDC Corp. from a “neutral” rating to a “buy” rating and set a $12.30 target price for the company in a research note on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. TriplePoint Venture Growth BDC Corp. presently has an average rating of “Hold” and a consensus price target of $12.85.

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) opened at 11.19 on Thursday. TriplePoint Venture Growth BDC Corp. has a 1-year low of $8.83 and a 1-year high of $12.65. The company has a 50-day moving average of $10.82 and a 200-day moving average of $10.91.

In related news, insider Sajal Srivastava bought 8,000 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was acquired at an average cost of $11.54 per share, with a total value of $92,320.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.27% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake in shares of TriplePoint Venture Growth BDC Corp. by 11.0% in the third quarter. Advisors Asset Management Inc. now owns 1,008,379 shares of the investment management company’s stock worth $10,689,000 after buying an additional 100,149 shares during the last quarter. Confluence Investment Management LLC increased its position in TriplePoint Venture Growth BDC Corp. by 0.8% in the third quarter. Confluence Investment Management LLC now owns 744,583 shares of the investment management company’s stock valued at $7,893,000 after buying an additional 5,624 shares in the last quarter. Alliancebernstein L.P. increased its position in TriplePoint Venture Growth BDC Corp. by 2.2% in the second quarter. Alliancebernstein L.P. now owns 421,339 shares of the investment management company’s stock valued at $4,462,000 after buying an additional 9,066 shares in the last quarter. Ameriprise Financial Inc. increased its position in TriplePoint Venture Growth BDC Corp. by 2.7% in the second quarter. Ameriprise Financial Inc. now owns 394,735 shares of the investment management company’s stock valued at $4,181,000 after buying an additional 10,369 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in TriplePoint Venture Growth BDC Corp. by 1.8% in the third quarter. Wells Fargo & Company MN now owns 198,238 shares of the investment management company’s stock valued at $2,102,000 after buying an additional 3,568 shares in the last quarter. 54.42% of the stock is owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Corp. Company Profile

TriplePoint Venture Growth BDC Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries, which are backed by TriplePoint Capital LLC’s (TPC) select group of venture capital investors.

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