TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) had its price target lowered by investment analysts at Wells Fargo & Company from $6.50 to $5.50 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "underweight" rating on the investment management company's stock. Wells Fargo & Company's target price would suggest a potential downside of 9.47% from the stock's current price.
A number of other research firms have also recently issued reports on TPVG. Piper Sandler cut their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Compass Point cut their price objective on shares of 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. Keefe, Bruyette & Woods reduced their price objective on TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group dropped 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. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, TriplePoint Venture Growth BDC currently has an average rating of "Hold" and a consensus price target of $6.79.
Get Our Latest Stock Analysis on TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC Trading Up 1.1 %
Shares of TPVG stock traded up $0.07 on Monday, hitting $6.08. 256,059 shares of the stock were exchanged, compared to its average volume of 387,761. The firm has a market capitalization of $243.83 million, a P/E ratio of 28.93 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. The business has a 50-day moving average of $6.74 and a 200 day moving average of $7.31.
TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $25.75 million for the quarter, compared to the consensus estimate of $26.68 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. As a group, research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.
Hedge Funds Weigh In On TriplePoint Venture Growth BDC
Several institutional investors have recently added to or reduced their stakes in TPVG. Jane Street Group LLC grew its stake in shares of TriplePoint Venture Growth BDC by 712.4% in the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company's stock valued at $741,000 after buying an additional 92,072 shares during the period. Strategic Financial Concepts LLC acquired a new stake in TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $120,000. EverSource Wealth Advisors LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company's stock valued at $74,000 after acquiring an additional 2,000 shares in the last quarter. Quantbot Technologies LP raised its position in shares of TriplePoint Venture Growth BDC by 176.5% during the fourth quarter. Quantbot Technologies LP now owns 28,810 shares of the investment management company's stock worth $213,000 after purchasing an additional 18,391 shares during the period. Finally, Alpine Global Management LLC bought a new position in shares of TriplePoint Venture Growth BDC in the 4th quarter worth $477,000. 12.77% of the stock is owned by institutional investors and hedge funds.
About TriplePoint Venture Growth BDC
(
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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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