Piper Sandler Cuts TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target to $7.50

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target lowered by analysts at Piper Sandler from $8.00 to $7.50 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the investment management company’s stock. Piper Sandler’s target price would suggest a potential downside of 0.92% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Wells Fargo & Company cut their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their target price for the stock from $8.00 to $7.50 in a report on Thursday. Finally, LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.50 to $8.00 in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.65.

TriplePoint Venture Growth BDC Trading Up 11.2 %

TPVG traded up $0.76 on Thursday, hitting $7.57. The company had a trading volume of 400,273 shares, compared to its average volume of 358,080. The company’s fifty day moving average price is $6.99 and its 200 day moving average price is $8.07. TriplePoint Venture Growth BDC has a 1 year low of $6.44 and a 1 year high of $11.58. The firm has a market cap of $302.42 million, a P/E ratio of -24.80 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. The firm had revenue of $27.11 million during the quarter, compared to analyst estimates of $28.77 million. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

Insider Activity at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava purchased 11,298 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $7.02 per share, for a total transaction of $79,311.96. Following the acquisition, the president now directly owns 250,858 shares of the company’s stock, valued at approximately $1,761,023.16. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of TriplePoint Venture Growth BDC

A number of institutional investors have recently bought and sold shares of TPVG. Quarry LP purchased a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $35,000. EverSource Wealth Advisors LLC purchased a new stake in TriplePoint Venture Growth BDC in the second quarter valued at $62,000. Diversify Wealth Management LLC acquired a new position in TriplePoint Venture Growth BDC in the third quarter valued at $82,000. Diversify Advisory Services LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 31.2% during the third quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock worth $94,000 after purchasing an additional 3,378 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of TriplePoint Venture Growth BDC during the third quarter worth about $138,000. 12.77% of the stock is 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.