Wells Fargo & Company Cuts TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target to $5.00

Key Points

• Wells Fargo cut its price target on TriplePoint Venture Growth BDC from $5.50 to $5.00 and kept an "underweight" rating, implying roughly a 6.72% downside from the stock's current level.
• TPVG's latest quarter reported EPS of $0.25 (vs. $0.26 expected) and a large revenue miss — $3.42M vs. $23.78M consensus — while the share price trades around $5.36, near its 12‑month low of $5.03.
• Insiders bought shares recently (CEO James Labe and Sajal Srivastava each bought 23,799 shares at $6.66), with insiders acquiring about 1.32M shares in the past 90 days and owning roughly 1.46% of the stock.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) had its price target cut by research analysts at Wells Fargo & Company from $5.50 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the investment management company's stock. Wells Fargo & Company's price objective suggests a potential downside of 6.72% from the company's current price.

Several other research analysts have also commented on TPVG. Zacks Research raised shares of TriplePoint Venture Growth BDC from a "strong sell" rating to a "hold" rating in a research note on Monday, December 8th. Weiss Ratings upgraded TriplePoint Venture Growth BDC from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, February 9th. Finally, Wall Street Zen raised shares of TriplePoint Venture Growth BDC from a "sell" rating to a "hold" rating in a research report on Saturday, December 6th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $6.15.

TriplePoint Venture Growth BDC Price Performance

NYSE TPVG traded up $0.09 during trading hours on Thursday, hitting $5.36. The company's stock had a trading volume of 415,246 shares, compared to its average volume of 376,974. TriplePoint Venture Growth BDC has a 12 month low of $5.03 and a 12 month high of $7.66. The company has a market cap of $216.54 million, a P/E ratio of 6.31 and a beta of 1.37. The company's 50 day simple moving average is $6.07 and its two-hundred day simple moving average is $6.10.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last announced its earnings results on Wednesday, March 4th. The investment management company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The company had revenue of $3.42 million during the quarter, compared to the consensus estimate of $23.78 million. TriplePoint Venture Growth BDC had a return on equity of 12.88% and a net margin of 36.02%. As a group, research analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Insider Transactions at TriplePoint Venture Growth BDC

In related news, insider Sajal Srivastava purchased 23,799 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Monday, January 12th. The stock was bought at an average cost of $6.66 per share, for a total transaction of $158,501.34. Following the completion of the transaction, the insider owned 1,998,489 shares in the company, valued at $13,309,936.74. The trade was a 1.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James Labe acquired 23,799 shares of the business's stock in a transaction on Monday, January 12th. The stock was purchased at an average cost of $6.66 per share, with a total value of $158,501.34. Following the acquisition, the chief executive officer directly owned 1,998,489 shares of the company's stock, valued at $13,309,936.74. This represents a 1.21% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 1,318,182 shares of company stock valued at $8,540,309. 1.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at about $354,000. Oxford Asset Management LLP purchased a new position in TriplePoint Venture Growth BDC during the fourth quarter worth about $74,000. Millennium Management LLC raised its stake in TriplePoint Venture Growth BDC by 20.3% during the fourth quarter. Millennium Management LLC now owns 28,036 shares of the investment management company's stock worth $183,000 after purchasing an additional 4,729 shares during the period. Kovack Advisors Inc. boosted its holdings in TriplePoint Venture Growth BDC by 13.1% in the 4th quarter. Kovack Advisors Inc. now owns 59,383 shares of the investment management company's stock valued at $388,000 after purchasing an additional 6,864 shares during the last quarter. Finally, Trexquant Investment LP grew its stake in shares of TriplePoint Venture Growth BDC by 48.1% in the 4th quarter. Trexquant Investment LP now owns 190,996 shares of the investment management company's stock valued at $1,249,000 after buying an additional 62,023 shares during the period. 12.77% of the stock is owned by hedge funds and other institutional investors.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.

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