Insider Buying: TriplePoint Venture Growth BDC (NYSE:TPVG) Insider Purchases 65,000 Shares of Stock

Key Points

• Sajal Srivastava, an insider at TriplePoint Venture Growth BDC, purchased 65,000 shares of stock at an average price of $6.73 per share, increasing their ownership by 15.35%.
• TriplePoint Venture Growth BDC recently reported a net income miss with earnings of $0.28 per share, falling short of estimates by $0.02.
• The company announced a quarterly dividend of $0.23 per share, representing a dividend yield of 13.6%, but has a payout ratio of 115.38%.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) insider Sajal Srivastava bought 65,000 shares of the business's stock in a transaction on Friday, August 29th. The shares were acquired at an average cost of $6.73 per share, with a total value of $437,450.00. Following the purchase, the insider owned 488,435 shares of the company's stock, valued at $3,287,167.55. The trade was a 15.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Sajal Srivastava also recently made the following trade(s):

• On Friday, August 29th, Sajal Srivastava bought 65,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.73 per share, for a total transaction of $437,450.00.
• On Thursday, August 28th, Sajal Srivastava bought 44,630 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $6.64 per share, with a total value of $296,343.20.
• On Thursday, August 28th, Sajal Srivastava bought 44,630 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $6.64 per share, with a total value of $296,343.20.
• On Wednesday, August 27th, Sajal Srivastava bought 53,160 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $6.63 per share, with a total value of $352,450.80.
• On Tuesday, August 26th, Sajal Srivastava bought 27,988 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $6.48 per share, with a total value of $181,362.24.
• On Monday, August 25th, Sajal Srivastava purchased 80,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.48 per share, with a total value of $518,400.00.
• On Friday, August 22nd, Sajal Srivastava acquired 42,003 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.44 per share, for a total transaction of $270,499.32.
• On Thursday, August 21st, Sajal Srivastava acquired 31,000 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.30 per share, for a total transaction of $195,300.00.
• On Wednesday, August 20th, Sajal Srivastava acquired 39,567 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.20 per share, for a total transaction of $245,315.40.
• On Tuesday, August 12th, Sajal Srivastava acquired 28,387 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.28 per share, for a total transaction of $178,270.36.

TriplePoint Venture Growth BDC Stock Performance

TPVG stock traded down $0.04 during midday trading on Tuesday, reaching $6.75. 358,636 shares of the company were exchanged, compared to its average volume of 306,440. TriplePoint Venture Growth BDC Corp. has a 1-year low of $5.53 and a 1-year high of $8.50. The stock's 50-day simple moving average is $6.81 and its 200 day simple moving average is $6.84. The company has a market cap of $271.96 million, a price-to-earnings ratio of 6.49 and a beta of 1.48.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The investment management company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $23.28 million during the quarter, compared to analyst estimates of $23.75 million. TriplePoint Venture Growth BDC had a net margin of 42.16% and a return on equity of 13.78%. On average, research analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 13.6%. The ex-dividend date is Tuesday, September 16th. TriplePoint Venture Growth BDC's payout ratio is currently 115.38%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP raised its position in shares of TriplePoint Venture Growth BDC by 44.9% in 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. Two Sigma Investments LP boosted its position in shares of TriplePoint Venture Growth BDC by 21.9% during the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company's stock worth $5,004,000 after buying an additional 122,039 shares during the period. Millennium Management LLC increased its stake in shares of TriplePoint Venture Growth BDC by 180.1% during the fourth quarter. Millennium Management LLC now owns 120,602 shares of the investment management company's stock valued at $890,000 after acquiring an additional 77,551 shares during the period. Alpine Global Management LLC acquired a new stake in TriplePoint Venture Growth BDC during the fourth quarter valued at approximately $477,000. Finally, Cubist Systematic Strategies LLC acquired a new position in TriplePoint Venture Growth BDC in the 4th quarter worth approximately $417,000. Institutional investors and hedge funds own 12.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Zacks Research upgraded TriplePoint Venture Growth BDC to a "strong sell" rating in a research report on Friday, August 8th. UBS Group restated a "neutral" rating and set a $7.00 target price (up previously from $6.50) on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, July 16th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $6.75.

TriplePoint Venture Growth BDC Company Profile

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.

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