TriplePoint Venture Growth BDC (NYSE:TPVG) Cut to Sell at Wall Street Zen

TriplePoint Venture Growth BDC (NYSE:TPVG) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on the stock. Piper Sandler lowered their price objective on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. UBS Group lowered their target price on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Zacks Research cut TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Wednesday. Four analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $6.25.

TriplePoint Venture Growth BDC Trading Up 1.2%

TPVG stock opened at $6.33 on Friday. The stock’s 50 day simple moving average is $5.77 and its 200 day simple moving average is $6.44. TriplePoint Venture Growth BDC has a 12-month low of $5.24 and a 12-month high of $8.50. The firm has a market cap of $255.53 million, a P/E ratio of 7.44 and a beta of 1.47.

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

Insider Activity at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, insider Sajal Srivastava acquired 80,000 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost of $6.48 per share, with a total value of $518,400.00. Following the acquisition, the insider directly owned 297,657 shares of the company’s stock, valued at $1,928,817.36. This represents a 36.76% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Labe bought 80,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $6.48 per share, for a total transaction of $518,400.00. Following the completion of the transaction, the chief executive officer owned 297,657 shares in the company, valued at $1,928,817.36. This trade represents a 36.76% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 1,432,592 shares of company stock valued at $9,180,413. Insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. bought a new position in TriplePoint Venture Growth BDC in the 2nd quarter valued at about $26,000. Quarry LP lifted its stake in shares of TriplePoint Venture Growth BDC by 53.6% in the 1st quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock worth $33,000 after acquiring an additional 1,629 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at approximately $35,000. Advisory Services Network LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the third quarter valued at approximately $33,000. Finally, HighTower Advisors LLC bought a new stake in TriplePoint Venture Growth BDC during the first quarter worth approximately $72,000. 12.77% of the stock is currently owned by institutional investors.

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.