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

TriplePoint Venture Growth BDC (NYSE:TPVG) had its target price lifted by equities research analysts at Wells Fargo & Company from $6.50 to $7.50 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the investment management company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 5.90% from the stock’s previous close.

A number of other equities analysts have also commented on TPVG. Piper Sandler dropped their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. StockNews.com upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday. LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $8.50 to $8.00 in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their target price for the company from $8.00 to $7.50 in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.85.

TriplePoint Venture Growth BDC Trading Down 0.3 %

TriplePoint Venture Growth BDC stock traded down $0.02 during trading hours on Tuesday, reaching $7.97. 87,133 shares of the company were exchanged, compared to its average volume of 358,754. TriplePoint Venture Growth BDC has a 12 month low of $6.44 and a 12 month high of $11.58. The firm has a market cap of $319.20 million, a price-to-earnings ratio of 37.95 and a beta of 1.80. The stock has a 50-day moving average of $7.04 and a 200 day moving average of $7.97.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $26.52 million during the quarter, compared to the consensus estimate of $25.65 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. During the same period in the prior year, the firm earned $0.54 EPS. As a group, research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in TriplePoint Venture Growth BDC in the second quarter valued at about $35,000. EverSource Wealth Advisors LLC bought a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at $62,000. Diversify Wealth Management LLC acquired a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at $82,000. Dynamic Technology Lab Private Ltd acquired a new position in TriplePoint Venture Growth BDC in the third quarter valued at about $83,000. Finally, BNP Paribas Financial Markets raised its position in shares of TriplePoint Venture Growth BDC by 214.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock valued at $93,000 after acquiring an additional 9,000 shares during the period. 12.77% of the stock is currently owned by institutional investors and hedge funds.

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.