TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Stock Now Rated “Reduce” by Sell-Side Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG – Get Free Report) have been assigned a consensus recommendation of “Reduce” from the five research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $5.17.

Several analysts recently weighed in on the stock. Weiss Ratings cut shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods decreased their price objective on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating for the company in a report on Thursday, August 6th. Finally, Piper Sandler dropped their target price on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a research report on Monday, July 13th.

Check Out Our Latest Research Report on TPVG

Insider Transactions at TriplePoint Venture Growth BDC

In other news, CEO James Labe acquired 313,865 shares of the business’s stock in a transaction on Friday, September 18th. The shares were acquired at an average cost of $4.71 per share, with a total value of $1,478,304.15. Following the transaction, the chief executive officer owned 2,312,354 shares in the company, valued at $10,891,187.34. The trade was a 15.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sajal Srivastava sold 313,865 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $4.71, for a total value of $1,478,304.15. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Summit Securities Group LLC lifted its position in TriplePoint Venture Growth BDC by 257.1% during the first quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after buying an additional 3,600 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of TriplePoint Venture Growth BDC by 75.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock worth $46,000 after buying an additional 3,000 shares during the period. Kestra Advisory Services LLC bought a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth about $64,000. Attessa Capital LLC bought a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter worth about $67,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in TriplePoint Venture Growth BDC by 19.9% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company’s stock valued at $72,000 after acquiring an additional 2,435 shares during the period. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG stock opened at $4.61 on Tuesday. The firm has a market cap of $187.47 million, a P/E ratio of 4.65 and a beta of 1.37. TriplePoint Venture Growth BDC has a fifty-two week low of $4.15 and a fifty-two week high of $6.95. The business’s 50 day moving average price is $4.84 and its 200-day moving average price is $5.20.

TriplePoint Venture Growth BDC (NYSE:TPVG – Get Free Report) last posted its earnings results on Wednesday, August 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. TriplePoint Venture Growth BDC had a return on equity of 10.68% and a net margin of 44.58%. The firm had revenue of $22.15 million for the quarter, compared to analysts’ expectations of $22.88 million. As a group, equities analysts predict that TriplePoint Venture Growth BDC will post 0.89 EPS for the current year.

About TriplePoint Venture Growth BDC

(Get Free Report)

TriplePoint Venture Growth BDC Corp. is a business development company that provides financing to venture growth-stage companies. The company primarily invests in businesses backed by venture capital or private equity sponsors, with an emphasis on companies that have developed products or services and are seeking capital to support expansion, acquisitions, working capital and other corporate purposes.

Its investment portfolio is focused largely on companies in technology, life sciences and other high-growth industries.

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Analyst Recommendations for TriplePoint Venture Growth BDC (NYSE:TPVG)

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