TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Gets Price Target Trim from Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut its TPVG price target from $5.50 to $5.00, maintaining a “market perform” rating; the target implies about 15.9% upside from the cited share price. Analysts overall have a “Reduce” consensus rating.
• TPVG’s latest quarter fell short of expectations: earnings were $0.16 per share versus $0.22 forecast, and revenue was $20.17 million versus $22.18 million expected.
• Management extended its incentive-fee waiver through 2027 and expects quarterly fundings of $25 million to $50 million, while CEO James Labe also purchased about $1.48 million of shares.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) had its target price decreased by Keefe, Bruyette & Woods from $5.50 to $5.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "market perform" rating on the investment management company's stock. Keefe, Bruyette & Woods's price target would suggest a potential upside of 15.87% from the stock's current price.

A number of other research firms have also issued reports on TPVG. Weiss Ratings lowered shares of TriplePoint Venture Growth BDC from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th. Piper Sandler reduced their price objective on 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. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $5.00.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE TPVG traded down $0.35 during mid-day trading on Thursday, hitting $4.32. The company had a trading volume of 670,827 shares, compared to its average volume of 329,084. TriplePoint Venture Growth BDC has a 12 month low of $4.11 and a 12 month high of $6.95. The stock has a market cap of $175.66 million, a price-to-earnings ratio of 4.36 and a beta of 1.35. The firm's 50 day simple moving average is $4.81 and its two-hundred day simple moving average is $5.18.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its earnings results on Wednesday, November 4th. The investment management company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). The company had revenue of $20.17 million during the quarter, compared to analyst estimates of $22.18 million. TriplePoint Venture Growth BDC had a return on equity of 10.68% and a net margin of 44.58%. Equities analysts forecast that TriplePoint Venture Growth BDC will post 0.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO James Labe bought 313,865 shares of TriplePoint Venture Growth BDC stock in a transaction dated Friday, September 18th. The stock was acquired at an average cost of $4.71 per share, with a total value of $1,478,304.15. Following the completion of the acquisition, the chief executive officer directly owned 2,312,354 shares in the company, valued at approximately $10,891,187.34. This trade represents a 15.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sajal Srivastava sold 313,865 shares of the company's stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $4.71, for a total transaction of $1,478,304.15. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth about $1,597,000. Bank of America Corp DE acquired a new stake in TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $620,000. BlackRock Inc. bought a new stake in TriplePoint Venture Growth BDC during the second quarter worth approximately $754,000. StoneX Group Inc. acquired a new position in TriplePoint Venture Growth BDC during the third quarter valued at approximately $59,000. Finally, Kestra Advisory Services LLC bought a new position in shares of TriplePoint Venture Growth BDC in the third quarter valued at approximately $64,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

Key TriplePoint Venture Growth BDC News

Here are the key news stories impacting TriplePoint Venture Growth BDC this week:

• Positive Sentiment: TriplePoint extended its incentive-fee waiver through 2027, which may help preserve more income for shareholders. Article: TPVG expects quarterly fundings and extends fee waiver
• Neutral Sentiment: Management expects quarterly fundings of $25 million to $50 million, signaling continued portfolio deployment, though the pace and returns from new investments remain uncertain. Article: TPVG expects quarterly fundings and extends fee waiver
• Negative Sentiment: Third-quarter earnings were $0.16 per share, below the $0.22 consensus and down from $0.26 a year earlier. Revenue of $20.17 million also missed estimates of $22.18 million, raising concerns about near-term earnings momentum. Article: TriplePoint Q3 earnings and revenue miss estimates

TriplePoint Venture Growth BDC Company Profile

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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