TriplePoint Venture Growth BDC (NYSE:TPVG) Shares Cross Above 50-Day Moving Average – Here’s Why

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.42 and traded as high as $6.53. TriplePoint Venture Growth BDC shares last traded at $6.4850, with a volume of 393,990 shares trading hands.

Wall Street Analysts Forecast Growth

TPVG has been the subject of several research analyst reports. UBS Group reduced their target price on shares of 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. Weiss Ratings upgraded 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 research note on Saturday, December 6th. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Finally, Piper Sandler decreased their price objective on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, TriplePoint Venture Growth BDC has a consensus rating of “Reduce” and an average target price of $6.25.

TriplePoint Venture Growth BDC Trading Down 1.4%

The firm has a 50-day moving average of $6.42 and a two-hundred day moving average of $6.34. The firm has a market capitalization of $261.99 million, a P/E ratio of 7.63 and a beta of 1.35.

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

Insider Activity at TriplePoint Venture Growth BDC

In other news, insider Sajal Srivastava acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average price of $6.19 per share, with a total value of $309,500.00. Following the acquisition, the insider directly owned 886,139 shares in the company, valued at $5,485,200.41. The trade was a 5.98% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James Labe bought 50,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $5.95 per share, with a total value of $297,500.00. Following the acquisition, the chief executive officer owned 717,352 shares in the company, valued at approximately $4,268,244.40. This represents a 7.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 2,316,934 shares of company stock valued at $14,747,460. 1.46% of the stock is owned by insiders.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds have recently made changes to their positions in TPVG. Two Sigma Investments LP increased its holdings in TriplePoint Venture Growth BDC by 58.6% in the third quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock valued at $3,535,000 after purchasing an additional 226,479 shares during the period. Marshall Wace LLP raised its position in shares of TriplePoint Venture Growth BDC by 44.9% during the second quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock worth $3,710,000 after acquiring an additional 163,916 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of TriplePoint Venture Growth BDC by 4.5% in the second quarter. Legal & General Group Plc now owns 276,451 shares of the investment management company’s stock worth $1,935,000 after acquiring an additional 11,965 shares during the period. Norden Group LLC lifted its stake in shares of TriplePoint Venture Growth BDC by 150.1% in the fourth quarter. Norden Group LLC now owns 174,090 shares of the investment management company’s stock worth $1,139,000 after acquiring an additional 104,492 shares during the period. Finally, Samalin Investment Counsel LLC boosted 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. 12.77% of the stock is owned by institutional investors and hedge funds.

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.