Piper Sandler Has Lowered Expectations for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price objective decreased by analysts at Piper Sandler from $6.00 to $5.50 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. Piper Sandler’s price objective points to a potential upside of 8.78% from the company’s previous close.

TPVG has been the topic of several other reports. Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Keefe, Bruyette & Woods dropped their price target on shares of 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. Weiss Ratings cut shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 12th. Finally, Wells Fargo & Company dropped their price target on shares of 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. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, TriplePoint Venture Growth BDC has an average rating of “Reduce” and a consensus target price of $5.63.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE TPVG opened at $5.06 on Tuesday. The stock has a fifty day moving average price of $5.33 and a two-hundred day moving average price of $5.84. The firm has a market cap of $204.72 million, a P/E ratio of 4.11 and a beta of 1.32. 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 issued its quarterly earnings results on Wednesday, March 4th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $3.42 million for the quarter, compared to the consensus estimate of $23.78 million. TriplePoint Venture Growth BDC had a net margin of 54.12% and a return on equity of 12.04%. On average, research analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Insider Transactions at TriplePoint Venture Growth BDC

In related news, insider Sajal Srivastava acquired 23,799 shares of the company’s stock in a transaction on Monday, January 12th. The shares were purchased at an average price of $6.66 per share, for a total transaction of $158,501.34. Following the purchase, the insider owned 1,998,489 shares in the company, valued at $13,309,936.74. This represents a 1.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Labe acquired 23,799 shares of the company’s stock in a transaction on Monday, January 12th. The stock was bought at an average price of $6.66 per share, for a total transaction of $158,501.34. Following the purchase, the chief executive officer owned 1,998,489 shares in the company, valued at approximately $13,309,936.74. This trade represents a 1.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 79,598 shares of company stock valued at $526,923 over the last 90 days. Corporate insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Kovack Advisors Inc. increased its stake in TriplePoint Venture Growth BDC by 4.4% in the 3rd quarter. Kovack Advisors Inc. now owns 52,519 shares of the investment management company’s stock valued at $303,000 after buying an additional 2,200 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in TriplePoint Venture Growth BDC by 4.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 53,793 shares of the investment management company’s stock valued at $351,000 after purchasing an additional 2,278 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in TriplePoint Venture Growth BDC by 6.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 42,980 shares of the investment management company’s stock valued at $248,000 after purchasing an additional 2,600 shares during the last quarter. Verition Fund Management LLC boosted its position in TriplePoint Venture Growth BDC by 14.1% during the third quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock valued at $131,000 after purchasing an additional 2,800 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in TriplePoint Venture Growth BDC by 13.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company’s stock valued at $158,000 after purchasing an additional 2,921 shares during the last quarter. 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.