TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Lowered to $7.00 at Keefe, Bruyette & Woods

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price objective dropped by investment analysts at Keefe, Bruyette & Woods from $7.50 to $7.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 18.10% from the stock’s previous close.

Several other analysts have also recently commented on TPVG. Wells Fargo & Company cut shares of TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $7.50 to $6.50 in a research note on Monday, March 17th. Compass Point lowered their target price on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Finally, Piper Sandler reduced their target price on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.15.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG traded up $0.17 during mid-day trading on Tuesday, reaching $5.93. 338,249 shares of the company’s stock were exchanged, compared to its average volume of 379,951. The business’s fifty day simple moving average is $7.53 and its 200-day simple moving average is $7.44. The stock has a market capitalization of $237.89 million, a PE ratio of 28.26 and a beta of 1.65. TriplePoint Venture Growth BDC has a 52-week low of $5.53 and a 52-week high of $9.73.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The business had revenue of $25.75 million for the quarter, compared to analysts’ expectations of $26.68 million. Equities research analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its holdings in TriplePoint Venture Growth BDC by 214.3% in the third quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock valued at $93,000 after buying an additional 9,000 shares during the period. Quadrature Capital Ltd purchased a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter valued at approximately $99,000. Jane Street Group LLC boosted its stake in TriplePoint Venture Growth BDC by 712.4% during the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after acquiring an additional 92,072 shares during the last quarter. XTX Topco Ltd acquired a new position in TriplePoint Venture Growth BDC in the third quarter worth about $118,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $307,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.