TriplePoint Venture Growth BDC (NYSE:TPVG) Lowered to Underweight Rating by Wells Fargo & Company

TriplePoint Venture Growth BDC (NYSE:TPVG) was downgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have a $6.50 price target on the investment management company’s stock, down from their previous price target of $7.50. Wells Fargo & Company‘s price target suggests a potential downside of 12.03% from the stock’s current price.

Other equities analysts have also issued reports about the company. Piper Sandler upped their target price on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Compass Point upped their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.60.

TriplePoint Venture Growth BDC Stock Performance

TriplePoint Venture Growth BDC stock opened at $7.39 on Monday. The company has a market cap of $296.57 million, a price-to-earnings ratio of 35.19 and a beta of 1.90. TriplePoint Venture Growth BDC has a 1 year low of $6.44 and a 1 year high of $9.73. The firm has a 50 day moving average price of $7.76 and a 200 day moving average price of $7.50.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Aigen Investment Management LP bought a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $138,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of TriplePoint Venture Growth BDC during the third quarter valued at $83,000. BNP Paribas Financial Markets grew its position in shares of TriplePoint Venture Growth BDC by 214.3% during the third quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock worth $93,000 after acquiring an additional 9,000 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 12.3% in the 3rd quarter. Townsquare Capital LLC now owns 75,845 shares of the investment management company’s stock worth $535,000 after acquiring an additional 8,311 shares during the period. Finally, Paloma Partners Management Co bought a new stake in TriplePoint Venture Growth BDC in the 3rd quarter valued at about $282,000. 12.77% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Company Profile

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.