Wells Fargo & Company Issues Pessimistic Forecast for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) had its price target reduced by research analysts at Wells Fargo & Company from $6.50 to $5.50 in a research report issued on Monday,Benzinga reports. The firm presently has an "underweight" rating on the investment management company's stock. Wells Fargo & Company's target price indicates a potential downside of 9.54% from the stock's current price.

A number of other brokerages also recently commented on TPVG. Piper Sandler lowered their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. UBS Group cut their price target on TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their price objective on TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. Finally, Compass Point lowered their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. According to data from MarketBeat, TriplePoint Venture Growth BDC currently has a consensus rating of "Hold" and an average target price of $6.79.

TriplePoint Venture Growth BDC Stock Down 2.1 %

Shares of TriplePoint Venture Growth BDC stock traded down $0.13 during trading on Monday, hitting $6.08. 232,794 shares of the company were exchanged, compared to its average volume of 388,671. The firm has a 50 day moving average price of $6.82 and a 200 day moving average price of $7.32. The stock has a market capitalization of $244.03 million, a price-to-earnings ratio of 28.95 and a beta of 1.65. TriplePoint Venture Growth BDC has a fifty-two week low of $5.53 and a fifty-two week high of $9.70.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $25.75 million during the quarter, compared to analysts' expectations of $26.68 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. Analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of large investors have recently modified their holdings of TPVG. Two Sigma Investments LP increased its position in TriplePoint Venture Growth BDC by 21.9% during the 4th quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company's stock worth $5,004,000 after purchasing an additional 122,039 shares in the last quarter. Jane Street Group LLC increased its position in shares of TriplePoint Venture Growth BDC by 712.4% in the third quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company's stock worth $741,000 after acquiring an additional 92,072 shares in the last quarter. Millennium Management LLC raised its stake in shares of TriplePoint Venture Growth BDC by 180.1% in the 4th 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 position in shares of TriplePoint Venture Growth BDC during the 4th quarter valued at $477,000. Finally, Trexquant Investment LP boosted its position in TriplePoint Venture Growth BDC by 35.5% during the 4th quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company's stock worth $1,676,000 after purchasing an additional 59,462 shares during the period. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

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.