Piper Sandler Cuts TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target to $5.00

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price objective dropped by Piper Sandler from $5.50 to $5.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the investment management company’s stock. Piper Sandler’s price objective points to a potential upside of 5.91% from the company’s previous close.

A number of other brokerages have also recently issued reports on TPVG. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research report on Tuesday, June 9th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.50.

TriplePoint Venture Growth BDC Price Performance

NYSE:TPVG opened at $4.72 on Monday. The company has a market capitalization of $191.67 million, a price-to-earnings ratio of 4.45 and a beta of 1.28. The business has a 50 day moving average of $5.31 and a 200 day moving average of $5.54. TriplePoint Venture Growth BDC has a 1-year low of $4.48 and a 1-year high of $7.50.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, May 6th. The investment management company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The business had revenue of $19.81 million for the quarter, compared to the consensus estimate of $23.14 million. TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. As a group, sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 0.95 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC increased its stake in shares of TriplePoint Venture Growth BDC by 28.1% during the first quarter. Jane Street Group LLC now owns 67,693 shares of the investment management company’s stock valued at $472,000 after buying an additional 14,865 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in TriplePoint Venture Growth BDC during the 2nd quarter valued at $35,000. Marshall Wace LLP boosted its stake in shares of TriplePoint Venture Growth BDC by 44.9% during the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock valued at $3,710,000 after purchasing an additional 163,916 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of TriplePoint Venture Growth BDC by 75.6% during the second quarter. Osaic Holdings Inc. now owns 35,945 shares of the investment management company’s stock valued at $252,000 after buying an additional 15,478 shares during the period. Finally, Two Sigma Investments LP raised its stake in TriplePoint Venture Growth BDC by 58.6% in the third quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock worth $3,535,000 after buying an additional 226,479 shares in the last quarter. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

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.