Wells Fargo & Company MN Sells 2,939 Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Wells Fargo & Company MN lessened its holdings in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,009 shares of the investment management company’s stock after selling 2,939 shares during the quarter. Wells Fargo & Company MN owned approximately 0.16% of TriplePoint Venture Growth BDC worth $480,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TPVG. Trexquant Investment LP boosted its holdings in shares of TriplePoint Venture Growth BDC by 35.5% during the 4th quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company’s stock worth $1,676,000 after buying an additional 59,462 shares during the period. Kovack Advisors Inc. raised its holdings in TriplePoint Venture Growth BDC by 20.8% in the 4th quarter. Kovack Advisors Inc. now owns 44,819 shares of the investment management company’s stock valued at $331,000 after acquiring an additional 7,719 shares in the last quarter. JPMorgan Chase & Co. lifted its position in TriplePoint Venture Growth BDC by 1,475.7% during the fourth quarter. JPMorgan Chase & Co. now owns 36,241 shares of the investment management company’s stock worth $267,000 after purchasing an additional 33,941 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of TriplePoint Venture Growth BDC during the 4th quarter worth approximately $267,000. Finally, ExodusPoint Capital Management LP bought a new stake in TriplePoint Venture Growth BDC during the fourth quarter worth $219,000. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Trading Up 1.1 %

NYSE:TPVG opened at $6.08 on Friday. The stock has a market capitalization of $243.83 million, a PE ratio of 28.93 and a beta of 1.65. TriplePoint Venture Growth BDC Corp. has a 12 month low of $5.53 and a 12 month high of $9.70. The firm’s 50 day moving average is $6.74 and its 200 day moving average is $7.32.

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

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.30 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.20 dividend on an annualized basis and a yield of 19.75%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 146.34%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TPVG. UBS Group decreased their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company cut their price target on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an “underweight” rating on the stock in a report on Monday, April 28th. Compass Point cut 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. 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 report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.79.

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.