Insider Buying: TriplePoint Venture Growth BDC (NYSE:TPVG) Insider Acquires 50,000 Shares of Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) insider Sajal Srivastava bought 50,000 shares of the stock in a transaction dated Monday, December 1st. The stock was purchased at an average cost of $6.40 per share, for a total transaction of $320,000.00. Following the acquisition, the insider owned 1,148,766 shares in the company, valued at $7,352,102.40. The trade was a 4.55% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Sajal Srivastava also recently made the following trade(s):

• On Monday, November 24th, Sajal Srivastava purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.31 per share, with a total value of $315,500.00.
• On Friday, November 21st, Sajal Srivastava acquired 39,760 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.30 per share, for a total transaction of $250,488.00.
• On Thursday, November 20th, Sajal Srivastava acquired 42,999 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.28 per share, with a total value of $270,033.72.
• On Wednesday, November 19th, Sajal Srivastava bought 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $6.19 per share, with a total value of $309,500.00.
• On Tuesday, November 18th, Sajal Srivastava bought 27,439 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost of $6.06 per share, for a total transaction of $166,280.34.
• On Monday, November 17th, Sajal Srivastava purchased 44,648 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.06 per share, with a total value of $270,566.88.
• On Friday, November 14th, Sajal Srivastava acquired 46,700 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $5.99 per share, with a total value of $279,733.00.
• On Wednesday, November 12th, Sajal Srivastava bought 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $5.95 per share, for a total transaction of $297,500.00.
• On Tuesday, November 11th, Sajal Srivastava bought 26,117 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $5.76 per share, with a total value of $150,433.92.

TriplePoint Venture Growth BDC Trading Up 3.3%

NYSE TPVG traded up $0.21 on Wednesday, hitting $6.61. 315,545 shares of the company were exchanged, compared to its average volume of 323,930. TriplePoint Venture Growth BDC Corp. has a 1-year low of $5.24 and a 1-year high of $8.38. The firm has a 50 day moving average of $5.80 and a two-hundred day moving average of $6.44. The company has a market cap of $267.04 million, a P/E ratio of 7.78 and a beta of 1.35.

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

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.92 annualized dividend and a yield of 13.9%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 108.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TPVG. UBS Group dropped their target price on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Piper Sandler dropped their price objective on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Wall Street Zen downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Zacks Research cut shares of TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Monday. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $6.25.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds have recently modified their holdings of TPVG. Nomura Asset Management Co. Ltd. bought a new position in TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $26,000. Quarry LP boosted its position in shares of TriplePoint Venture Growth BDC by 53.6% during the first quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock worth $33,000 after purchasing an additional 1,629 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at $35,000. Advisory Services Network LLC acquired a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at $33,000. Finally, HighTower Advisors LLC bought a new stake in shares of TriplePoint Venture Growth BDC in the 1st quarter valued at $72,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

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.