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

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target lowered by Keefe, Bruyette & Woods from $7.00 to $6.50 in a report published on Thursday,Benzinga reports. The firm currently has a market perform rating on the investment management company’s stock.

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

TriplePoint Venture Growth BDC Trading Down 1.7%

Shares of NYSE:TPVG opened at $5.27 on Thursday. The company has a market capitalization of $213.39 million, a PE ratio of 4.28 and a beta of 1.37. TriplePoint Venture Growth BDC has a twelve month low of $5.03 and a twelve month high of $7.66. The firm has a 50 day simple moving average of $6.03 and a 200-day simple moving average of $6.08.

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

Insiders Place Their Bets

In other TriplePoint Venture Growth BDC news, insider Sajal Srivastava acquired 23,799 shares of the 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 transaction, the insider 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Labe acquired 23,799 shares of the company’s stock in a transaction on Monday, January 12th. The stock was acquired at an average price of $6.66 per share, for a total transaction of $158,501.34. Following the completion of the purchase, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, 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.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in TPVG. Nomura Asset Management Co. Ltd. acquired a new position in TriplePoint Venture Growth BDC in the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $35,000. Advisory Services Network LLC acquired a new stake in TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $33,000. Farmers & Merchants Investments Inc. grew its stake in shares of TriplePoint Venture Growth BDC by 221.7% in the 4th 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 last quarter. Finally, AXQ Capital LP purchased a new position in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at approximately $72,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

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.