TriplePoint Venture Growth BDC (NYSE:TPVG) Downgraded to “Underweight” Rating by Wells Fargo & Company

TriplePoint Venture Growth BDC (NYSE:TPVG) was downgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research report issued on Monday, MarketBeat.com reports. They presently have a $6.50 price target on the investment management company’s stock, down from their prior price target of $7.50. Wells Fargo & Company‘s price target indicates a potential downside of 12.03% from the stock’s previous close.

Several other research analysts have also commented on the company. Compass Point lifted their price target on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Piper Sandler lifted their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.60.

TriplePoint Venture Growth BDC Trading Up 0.1 %

TriplePoint Venture Growth BDC stock opened at $7.39 on Monday. The stock has a market cap of $296.57 million, a P/E ratio of 35.19 and a beta of 1.90. The company has a fifty day simple moving average of $7.76 and a 200-day simple moving average of $7.50. TriplePoint Venture Growth BDC has a 12-month low of $6.44 and a 12-month high of $9.73.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, March 5th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $25.75 million for the quarter, compared to analyst estimates of $26.68 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. As a group, sell-side analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC lifted its stake in TriplePoint Venture Growth BDC by 712.4% in the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after buying an additional 92,072 shares in the last quarter. BNP Paribas Financial Markets raised its stake in TriplePoint Venture Growth BDC by 214.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock valued at $93,000 after purchasing an additional 9,000 shares during the last quarter. XTX Topco Ltd purchased a new position in TriplePoint Venture Growth BDC in the 3rd quarter valued at about $118,000. Strategic Financial Concepts LLC acquired a new stake in shares of TriplePoint Venture Growth BDC during the 4th quarter worth about $120,000. Finally, Townsquare Capital LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 12.3% during the third quarter. Townsquare Capital LLC now owns 75,845 shares of the investment management company’s stock worth $535,000 after buying an additional 8,311 shares in the last quarter. 12.77% of the stock is currently owned by hedge funds and other 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.