TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Cut to $7.50 by Analysts at Piper Sandler

TriplePoint Venture Growth BDC (NYSE:TPVG) had its target price reduced by equities research analysts at Piper Sandler from $8.00 to $7.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the investment management company’s stock. Piper Sandler’s price target points to a potential downside of 0.92% from the company’s current price.

Several other brokerages also recently weighed in on TPVG. Wells Fargo & Company lowered their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. LADENBURG THALM/SH SH lowered TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $8.50 to $8.00 in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods raised TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their target price for the stock from $8.00 to $7.50 in a research note on Thursday. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.65.

TriplePoint Venture Growth BDC Stock Performance

TriplePoint Venture Growth BDC stock traded up $0.76 during midday trading on Thursday, hitting $7.57. 400,273 shares of the company’s stock were exchanged, compared to its average volume of 358,080. The firm’s 50 day simple moving average is $6.99 and its 200 day simple moving average is $8.07. TriplePoint Venture Growth BDC has a 12-month low of $6.44 and a 12-month high of $11.58. The stock has a market cap of $302.42 million, a price-to-earnings ratio of -24.80 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results on Wednesday, August 7th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). The company had revenue of $27.11 million during the quarter, compared to analyst estimates of $28.77 million. TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. During the same period in the previous year, the firm posted $0.53 EPS. On average, equities research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava bought 11,298 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the transaction, the president now owns 250,858 shares in the company, valued at $1,761,023.16. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of TriplePoint Venture Growth BDC

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC lifted its holdings in TriplePoint Venture Growth BDC by 169.5% in the 2nd quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock valued at $3,471,000 after purchasing an additional 271,824 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of TriplePoint Venture Growth BDC by 16.4% during the second quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock valued at $6,799,000 after buying an additional 119,184 shares during the period. Marshall Wace LLP acquired a new stake in TriplePoint Venture Growth BDC during the second quarter worth approximately $1,486,000. Norden Group LLC grew its stake in TriplePoint Venture Growth BDC by 20.0% in the 1st quarter. Norden Group LLC now owns 17,860 shares of the investment management company’s stock worth $169,000 after acquiring an additional 2,972 shares during the period. Finally, International Assets Investment Management LLC grew its stake in TriplePoint Venture Growth BDC by 435.6% in the 3rd quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock worth $760,000 after acquiring an additional 87,535 shares during the period. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

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.