TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price Target Cut by Keefe, Bruyette & Woods

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price objective reduced by research analysts at Keefe, Bruyette & Woods from $5.50 to $5.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the investment management company’s stock. Keefe, Bruyette & Woods‘s target price points to a potential upside of 15.87% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler reduced their target price on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Weiss Ratings cut TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, TriplePoint Venture Growth BDC has a consensus rating of “Reduce” and an average target price of $5.00.

TriplePoint Venture Growth BDC Stock Down 7.6%

NYSE TPVG traded down $0.35 during trading on Thursday, hitting $4.32. The company’s stock had a trading volume of 670,827 shares, compared to its average volume of 329,084. The firm has a 50 day moving average price of $4.81 and a 200 day moving average price of $5.18. The firm has a market cap of $175.66 million, a P/E ratio of 4.36 and a beta of 1.35. TriplePoint Venture Growth BDC has a 52 week low of $4.11 and a 52 week high of $6.95.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, November 4th. The investment management company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). TriplePoint Venture Growth BDC had a return on equity of 10.68% and a net margin of 44.58%. The company had revenue of $20.17 million during the quarter, compared to analyst estimates of $22.18 million. On average, equities analysts expect that TriplePoint Venture Growth BDC will post 0.89 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO James Labe bought 313,865 shares of the stock in a transaction dated Friday, September 18th. The stock was bought at an average cost of $4.71 per share, with a total value of $1,478,304.15. Following the purchase, the chief executive officer owned 2,312,354 shares of the company’s stock, valued at approximately $10,891,187.34. This represents a 15.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sajal Srivastava sold 313,865 shares of the firm’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $4.71, for a total transaction of $1,478,304.15. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in shares of TriplePoint Venture Growth BDC in the second quarter worth about $1,597,000. BlackRock Inc. bought a new stake in TriplePoint Venture Growth BDC in the second quarter valued at approximately $754,000. Bank of America Corp DE bought a new stake in TriplePoint Venture Growth BDC in the 2nd quarter valued at $620,000. Cetera Investment Advisers raised its position in shares of TriplePoint Venture Growth BDC by 15.7% in the first quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock valued at $271,000 after purchasing an additional 7,355 shares during the period. Finally, Arlington Capital Management INC bought a new position in TriplePoint Venture Growth BDC in the 3rd quarter valued at about $245,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

Key Stories Impacting TriplePoint Venture Growth BDC

Here are the key news stories impacting TriplePoint Venture Growth BDC this week:

• Positive Sentiment: TriplePoint extended its incentive-fee waiver through 2027, which may help preserve more income for shareholders. Article: TPVG expects quarterly fundings and extends fee waiver
• Neutral Sentiment: Management expects quarterly fundings of $25 million to $50 million, signaling continued portfolio deployment, though the pace and returns from new investments remain uncertain. Article: TPVG expects quarterly fundings and extends fee waiver
• Negative Sentiment: Third-quarter earnings were $0.16 per share, below the $0.22 consensus and down from $0.26 a year earlier. Revenue of $20.17 million also missed estimates of $22.18 million, raising concerns about near-term earnings momentum. Article: TriplePoint Q3 earnings and revenue miss estimates

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company that provides financing to venture growth-stage companies. The company primarily invests in businesses backed by venture capital or private equity sponsors, with an emphasis on companies that have developed products or services and are seeking capital to support expansion, acquisitions, working capital and other corporate purposes.

Its investment portfolio is focused largely on companies in technology, life sciences and other high-growth industries.