Keefe, Bruyette & Woods Lowers TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target to $6.50

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price objective reduced by research analysts at Keefe, Bruyette & Woods from $7.00 to $6.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 23.34% from the company’s previous close.

A number of other analysts also recently commented on TPVG. Wells Fargo & Company cut their price objective on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Thursday. Weiss Ratings upgraded TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 9th. Zacks Research upgraded TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Wall Street Zen raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $6.05.

TriplePoint Venture Growth BDC Stock Down 1.7%

TriplePoint Venture Growth BDC stock opened at $5.27 on Thursday. The company has a fifty day simple moving average of $6.03 and a 200-day simple moving average of $6.09. The firm has a market capitalization of $213.38 million, a price-to-earnings ratio of 4.28 and a beta of 1.37. TriplePoint Venture Growth BDC has a 52-week low of $5.03 and a 52-week high of $7.66.

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

Insider Activity

In other news, CEO James Labe bought 23,799 shares of TriplePoint Venture Growth BDC stock in a transaction on Monday, January 12th. The shares were bought at an average cost of $6.66 per share, with a total value of $158,501.34. Following the completion of the purchase, the chief executive officer directly owned 1,998,489 shares of the company’s stock, valued at approximately $13,309,936.74. This trade represents a 1.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sajal Srivastava bought 23,799 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was purchased at an average price of $6.66 per share, for a total transaction of $158,501.34. Following the completion of the acquisition, the insider directly owned 1,998,489 shares in the company, valued at $13,309,936.74. The trade was a 1.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 1,222,700 shares of company stock valued at $7,890,076. 1.46% of the stock is owned by company insiders.

Institutional Trading of TriplePoint Venture Growth BDC

Several institutional investors have recently made changes to their positions in TPVG. Samalin Investment Counsel LLC lifted its holdings in TriplePoint Venture Growth BDC by 13.1% in the second quarter. Samalin Investment Counsel LLC now owns 92,636 shares of the investment management company’s stock valued at $649,000 after acquiring an additional 10,730 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in TriplePoint Venture Growth BDC during the second quarter worth $131,000. Ethos Financial Group LLC increased its stake in TriplePoint Venture Growth BDC by 84.9% during the second quarter. Ethos Financial Group LLC now owns 46,627 shares of the investment management company’s stock worth $327,000 after acquiring an additional 21,411 shares during the last quarter. Farmers & Merchants Investments Inc. raised its position in TriplePoint Venture Growth BDC by 221.7% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock valued at $67,000 after purchasing an additional 7,093 shares during the period. Finally, Eagle Global Advisors LLC purchased a new stake in TriplePoint Venture Growth BDC in the fourth quarter valued at $182,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

About TriplePoint Venture Growth BDC

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.