Piper Sandler Issues Pessimistic Forecast for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target dropped by Piper Sandler from $6.00 to $5.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. Piper Sandler’s price target points to a potential upside of 8.25% from the stock’s current price.

A number of other brokerages also recently commented on TPVG. Weiss Ratings downgraded TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 12th. Wells Fargo & Company reduced their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, March 5th. Keefe, Bruyette & Woods reduced their price objective on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Thursday, March 5th. Finally, Zacks Research upgraded TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $5.63.

TriplePoint Venture Growth BDC Stock Down 2.3%

Shares of NYSE TPVG traded down $0.12 during midday trading on Tuesday, hitting $5.08. The stock had a trading volume of 183,052 shares, compared to its average volume of 470,659. The company has a market capitalization of $205.73 million, a PE ratio of 4.13 and a beta of 1.32. The stock has a 50 day simple moving average of $5.38 and a 200-day simple moving average of $5.85. TriplePoint Venture Growth BDC has a 1 year low of $4.48 and a 1 year high of $7.53.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results on Wednesday, March 4th. The investment management company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $3.42 million during the quarter, compared to analysts’ expectations of $23.78 million. TriplePoint Venture Growth BDC had a net margin of 54.12% and a return on equity of 12.04%. As a group, analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, insider Sajal Srivastava bought 23,799 shares of the business’s stock in a transaction on Monday, January 12th. The stock was bought at an average price of $6.66 per share, with a total value of $158,501.34. Following the completion of the purchase, the insider directly owned 1,998,489 shares in the company, valued at $13,309,936.74. The trade was a 1.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Labe bought 23,799 shares of the business’s stock in a transaction on Monday, January 12th. The shares were acquired at an average cost of $6.66 per share, with a total value of $158,501.34. Following the purchase, the chief executive officer owned 1,998,489 shares of the company’s stock, valued at $13,309,936.74. The trade was a 1.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 175,018 shares of company stock valued at $1,146,533. 1.55% of the stock is owned by insiders.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPVG. Advisory Services Network LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the third quarter valued at $33,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at $35,000. Rockefeller Capital Management L.P. grew its stake in shares of TriplePoint Venture Growth BDC by 75.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after buying an additional 3,000 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of TriplePoint Venture Growth BDC by 221.7% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock valued at $67,000 after buying an additional 7,093 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at $72,000. Institutional investors and hedge funds 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.