TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.25 Consensus Price Target from Brokerages

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has earned a consensus recommendation of “Reduce” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $6.25.

A number of analysts have commented on the stock. Piper Sandler decreased their price target on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Weiss Ratings raised TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Wall Street Zen upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Finally, UBS Group cut their target price on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th.

Insiders Place Their Bets

In other news, CEO James Labe purchased 23,799 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were purchased at an average price of $6.66 per share, with a total value of $158,501.34. Following the completion of the acquisition, the chief executive officer owned 1,998,489 shares in the company, valued at $13,309,936.74. This trade represents a 1.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sajal Srivastava acquired 23,799 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,316,934 shares of company stock valued at $14,747,460 over the last three months. Company insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. purchased a new position in shares of TriplePoint Venture Growth BDC during the second quarter valued at approximately $26,000. Advisory Services Network LLC bought a new stake in TriplePoint Venture Growth BDC in the third quarter valued at $33,000. Northwestern Mutual Wealth Management Co. purchased a new position in TriplePoint Venture Growth BDC during the 2nd quarter valued at $35,000. Bluefin Capital Management LLC bought a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth $105,000. Finally, Verition Fund Management LLC lifted its position in shares of TriplePoint Venture Growth BDC by 14.1% in the 3rd 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. 12.77% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Price Performance

TPVG stock opened at $6.33 on Friday. The company has a 50 day simple moving average of $6.46 and a 200 day simple moving average of $6.31. The stock has a market cap of $255.53 million, a price-to-earnings ratio of 7.44 and a beta of 1.35. TriplePoint Venture Growth BDC has a 1 year low of $5.24 and a 1 year high of $8.20.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. The business had revenue of $22.66 million during the quarter, compared to analyst estimates of $24.22 million. On average, equities research analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

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.