Sajal Srivastava Acquires 44,630 Shares of TriplePoint Venture Growth BDC (NYSE:TPVG) Stock

Key Points

• Sajal Srivastava purchased 44,630 shares of TriplePoint Venture Growth BDC at an average price of $6.64 per share, totaling approximately $296,343.20, increasing his ownership by 11.78% to 423,435 shares.
• TriplePoint Venture Growth BDC announced a quarterly dividend of $0.23 per share, yielding 13.6%, with a payout ratio of 115.38%.
• The company's latest earnings report showed a miss on EPS expectations at $0.28, compared to the forecast of $0.30, while the revenue was also below estimates at $23.28 million.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) insider Sajal Srivastava purchased 44,630 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was purchased at an average price of $6.64 per share, for a total transaction of $296,343.20. Following the completion of the acquisition, the insider owned 423,435 shares of the company's stock, valued at approximately $2,811,608.40. This represents a 11.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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 shares were bought at an average price of $6.73 per share, for a total transaction of $437,450.00.
• On Friday, August 29th, Sajal Srivastava bought 65,000 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.73 per share, for a total transaction of $437,450.00.
• On Thursday, August 28th, Sajal Srivastava purchased 44,630 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.64 per share, for a total transaction of $296,343.20.
• On Wednesday, August 27th, Sajal Srivastava purchased 53,160 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.63 per share, for a total transaction of $352,450.80.
• On Tuesday, August 26th, Sajal Srivastava bought 27,988 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.48 per share, for a total transaction of $181,362.24.
• On Monday, August 25th, Sajal Srivastava bought 80,000 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.48 per share, for a total transaction of $518,400.00.
• On Friday, August 22nd, Sajal Srivastava purchased 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 purchased 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 purchased 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 purchased 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 Price Performance

NYSE:TPVG traded down $0.04 during trading hours on Tuesday, reaching $6.75. 358,636 shares of the company were exchanged, compared to its average volume of 306,440. The company has a market capitalization of $271.96 million, a P/E ratio of 6.49 and a beta of 1.48. TriplePoint Venture Growth BDC Corp. has a 1-year low of $5.53 and a 1-year high of $8.50. The business has a 50 day moving average of $6.81 and a 200 day moving average of $6.84.

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

TriplePoint Venture Growth BDC Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of TriplePoint Venture Growth BDC

A number of large investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. acquired a new stake in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at about $26,000. Quarry LP grew its stake in shares of TriplePoint Venture Growth BDC by 53.6% in the 1st quarter. Quarry LP now owns 4,669 shares of the investment management company's stock valued at $33,000 after buying an additional 1,629 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at about $35,000. Private Advisor Group LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the 1st quarter valued at about $72,000. Finally, HighTower Advisors LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the 1st quarter valued at about $72,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

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.

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