TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.25 Average PT from Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have received a consensus rating of “Reduce” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.25.

A number of brokerages have recently commented on TPVG. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Wall Street Zen upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Weiss Ratings raised shares of TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 9th.

TriplePoint Venture Growth BDC Price Performance

TPVG opened at $5.59 on Thursday. The stock’s 50 day moving average price is $6.16 and its 200 day moving average price is $6.13. The stock has a market cap of $225.63 million, a P/E ratio of 6.57 and a beta of 1.36. TriplePoint Venture Growth BDC has a 12 month low of $5.24 and a 12 month high of $8.20.

Insider Buying and Selling

In other news, insider Sajal Srivastava bought 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were purchased at an average price of $6.40 per share, with a total value of $320,000.00. Following the completion of the acquisition, the insider directly owned 1,148,766 shares in the company, valued at approximately $7,352,102.40. This trade represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Labe bought 50,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was purchased at an average price of $6.40 per share, with a total value of $320,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,148,766 shares of the company’s stock, valued at $7,352,102.40. This trade represents a 4.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 1,561,608 shares of company stock worth $10,127,389 in the last quarter. Company insiders own 1.46% of the company’s stock.

Institutional Trading of TriplePoint Venture Growth BDC

Several institutional investors have recently modified their holdings of the company. Two Sigma Investments LP grew its holdings in TriplePoint Venture Growth BDC by 58.6% during the third quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock worth $3,535,000 after acquiring an additional 226,479 shares during the period. Marshall Wace LLP boosted 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 purchasing an additional 163,916 shares in the last quarter. Legal & General Group Plc grew its stake in shares of TriplePoint Venture Growth BDC by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 276,451 shares of the investment management company’s stock worth $1,935,000 after purchasing an additional 11,965 shares during the last quarter. Trexquant Investment LP grew its stake in shares of TriplePoint Venture Growth BDC by 48.1% in the 4th quarter. Trexquant Investment LP now owns 190,996 shares of the investment management company’s stock worth $1,249,000 after purchasing an additional 62,023 shares during the last quarter. Finally, Norden Group LLC raised its holdings in shares of TriplePoint Venture Growth BDC by 150.1% in the 4th quarter. Norden Group LLC now owns 174,090 shares of the investment management company’s stock worth $1,139,000 after purchasing an additional 104,492 shares in the last quarter. Institutional investors and hedge funds 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.