TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Passes Below 200-Day Moving Average – Time to Sell?

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.26 and traded as low as $5.63. TriplePoint Venture Growth BDC shares last traded at $5.6650, with a volume of 425,232 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TPVG. UBS Group lowered their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 26th. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Wall Street Zen raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Piper Sandler lowered their price target on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $6.25.

TriplePoint Venture Growth BDC Trading Down 3.8%

The business’s 50 day simple moving average is $6.41 and its 200 day simple moving average is $6.26. The firm has a market capitalization of $228.87 million, a PE ratio of 6.66 and a beta of 1.36.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, November 5th. The investment management company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. The business had revenue of $22.66 million during the quarter, compared to the consensus estimate of $24.22 million. Analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Sajal Srivastava bought 50,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average cost of $6.19 per share, for a total transaction of $309,500.00. Following the acquisition, the insider directly owned 886,139 shares of the company’s stock, valued at $5,485,200.41. The trade was a 5.98% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James Labe acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were bought at an average cost of $5.95 per share, for a total transaction of $297,500.00. Following the transaction, the chief executive officer directly owned 717,352 shares of the company’s stock, valued at approximately $4,268,244.40. This trade represents a 7.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 2,316,934 shares of company stock worth $14,747,460 in the last 90 days. 1.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP increased its position in shares of TriplePoint Venture Growth BDC by 58.6% in the 3rd quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock worth $3,535,000 after purchasing an additional 226,479 shares during the last quarter. Marshall Wace LLP grew its position in shares of TriplePoint Venture Growth BDC by 44.9% during the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock valued at $3,710,000 after buying an additional 163,916 shares during the last quarter. Norden Group LLC boosted its stake in TriplePoint Venture Growth BDC by 150.1% in the fourth quarter. Norden Group LLC now owns 174,090 shares of the investment management company’s stock valued at $1,139,000 after acquiring an additional 104,492 shares during the period. Meridian Wealth Management LLC acquired a new stake in TriplePoint Venture Growth BDC in the third quarter worth $173,000. Finally, Aquatic Capital Management LLC boosted its holdings in shares of TriplePoint Venture Growth BDC by 251.3% during the third quarter. Aquatic Capital Management LLC now owns 41,137 shares of the investment management company’s stock valued at $237,000 after acquiring an additional 29,427 shares during the period. 12.77% of the stock is owned by hedge funds and other 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.