Piper Sandler Issues Pessimistic Forecast for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price objective lowered by research analysts at Piper Sandler from $8.00 to $7.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the investment management company’s stock. Piper Sandler’s price objective indicates a potential upside of 12.54% from the stock’s current price.

A number of other research analysts have also commented on the company. Wells Fargo & Company lowered TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $7.50 to $6.50 in a report on Monday, March 17th. Compass Point decreased their price target 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 investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.15.

TriplePoint Venture Growth BDC Stock Up 8.0 %

NYSE TPVG opened at $6.22 on Tuesday. The stock has a market cap of $249.65 million, a PE ratio of 29.62 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 $9.73. The business has a 50 day moving average price of $7.37 and a two-hundred day moving average price of $7.41.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its 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). TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The business had revenue of $25.75 million for the quarter, compared to analysts’ expectations of $26.68 million. Sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently bought and sold shares of TPVG. EverSource Wealth Advisors LLC increased its holdings in TriplePoint Venture Growth BDC by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock valued at $74,000 after purchasing an additional 2,000 shares during the last quarter. Legal & General Group Plc increased its holdings in TriplePoint Venture Growth BDC by 1.3% in the fourth quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock valued at $1,951,000 after purchasing an additional 3,418 shares during the last quarter. Summit Securities Group LLC bought a new stake in TriplePoint Venture Growth BDC in the fourth quarter valued at about $41,000. Diversify Wealth Management LLC grew its stake in TriplePoint Venture Growth BDC by 53.4% in the fourth quarter. Diversify Wealth Management LLC now owns 18,830 shares of the investment management company’s stock valued at $142,000 after acquiring an additional 6,553 shares during the period. Finally, Northern Trust Corp grew its stake in TriplePoint Venture Growth BDC by 29.5% in the fourth quarter. Northern Trust Corp now owns 31,176 shares of the investment management company’s stock valued at $230,000 after acquiring an additional 7,098 shares during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.