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

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price objective reduced by equities researchers at Piper Sandler from $6.00 to $5.50 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the investment management company’s stock. Piper Sandler’s price objective would suggest a potential upside of 8.25% from the stock’s current price.

Several other research analysts have also recently commented on the company. Wells Fargo & Company lowered their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, March 5th. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Weiss Ratings downgraded TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 12th. Finally, Keefe, Bruyette & Woods dropped their price target on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Thursday, March 5th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $5.63.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE TPVG traded down $0.12 during trading on Tuesday, reaching $5.08. The stock had a trading volume of 183,052 shares, compared to its average volume of 470,659. TriplePoint Venture Growth BDC has a fifty-two week low of $4.48 and a fifty-two week high of $7.53. The business’s 50-day moving average price is $5.38 and its 200-day moving average price is $5.85. The company has a market cap of $205.73 million, a P/E ratio of 4.13 and a beta of 1.32.

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

Insiders Place Their Bets

In related news, insider Sajal Srivastava acquired 30,877 shares of TriplePoint Venture Growth BDC stock in a transaction on Wednesday, January 7th. The shares were bought at an average price of $6.43 per share, for a total transaction of $198,539.11. Following the completion of the purchase, the insider directly owned 1,941,857 shares in the company, valued at $12,486,140.51. This trade represents a 1.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Labe bought 30,877 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were acquired at an average cost of $6.43 per share, for a total transaction of $198,539.11. Following the completion of the transaction, the chief executive officer owned 1,941,857 shares of the company’s stock, valued at approximately $12,486,140.51. The trade was a 1.62% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 175,018 shares of company stock worth $1,146,533 in the last quarter. 1.55% of the stock is owned by insiders.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kovack Advisors Inc. boosted its stake in TriplePoint Venture Growth BDC by 4.4% in the third quarter. Kovack Advisors Inc. now owns 52,519 shares of the investment management company’s stock valued at $303,000 after acquiring an additional 2,200 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in TriplePoint Venture Growth BDC by 4.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 53,793 shares of the investment management company’s stock worth $351,000 after purchasing an additional 2,278 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in TriplePoint Venture Growth BDC by 6.4% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 42,980 shares of the investment management company’s stock worth $248,000 after purchasing an additional 2,600 shares during the period. Verition Fund Management LLC lifted its position in TriplePoint Venture Growth BDC by 14.1% in the third quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock worth $131,000 after purchasing an additional 2,800 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in TriplePoint Venture Growth BDC by 13.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company’s stock worth $158,000 after purchasing an additional 2,921 shares during the period. 12.77% of the stock is currently owned by institutional investors and hedge funds.

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.