TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Average Rating of “Reduce” by Brokerages

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has earned a consensus rating of “Reduce” from the seven ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $6.25.

A number of equities analysts have recently weighed in on TPVG shares. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Weiss Ratings upgraded TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 9th. Finally, Wall Street Zen raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th.

TriplePoint Venture Growth BDC Stock Performance

TriplePoint Venture Growth BDC stock opened at $5.69 on Thursday. The firm has a market capitalization of $229.67 million, a price-to-earnings ratio of 6.69 and a beta of 1.36. TriplePoint Venture Growth BDC has a 52 week low of $5.24 and a 52 week high of $8.20. The company has a 50 day moving average price of $6.24 and a 200 day moving average price of $6.17.

Insider Transactions at TriplePoint Venture Growth BDC

In other news, insider Sajal Srivastava acquired 23,799 shares of TriplePoint Venture Growth BDC stock in a transaction on Monday, January 12th. The stock was bought at an average price of $6.66 per share, for a total transaction of $158,501.34. Following the transaction, the insider owned 1,998,489 shares of the company’s stock, valued at $13,309,936.74. The trade was a 1.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Labe bought 23,799 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Monday, January 12th. The stock was purchased at an average cost of $6.66 per share, with a total value of $158,501.34. Following the completion of the transaction, the chief executive officer owned 1,998,489 shares of the company’s stock, valued at $13,309,936.74. This trade represents a 1.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 1,741,128 shares of company stock worth $11,259,365. 1.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several institutional investors have recently added to or reduced their stakes in TPVG. Nomura Asset Management Co. Ltd. bought a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at approximately $26,000. Advisory Services Network LLC bought a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $35,000. Farmers & Merchants Investments Inc. lifted its holdings 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 buying an additional 7,093 shares during the period. Finally, AXQ Capital LP acquired a new stake in TriplePoint Venture Growth BDC during the 4th quarter worth $72,000. 12.77% of the stock is owned by institutional investors.

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.