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

TriplePoint Venture Growth BDC (NYSE:TPVG) was downgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They currently have a $6.50 price objective on the investment management company’s stock, down from their previous price objective of $7.50. Wells Fargo & Company‘s target price indicates a potential downside of 8.08% from the company’s previous close.

A number of other research analysts also recently weighed in on TPVG. Piper Sandler lifted their price target on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Compass Point upped their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.45.

TriplePoint Venture Growth BDC Stock Up 0.2 %

Shares of NYSE TPVG opened at $7.07 on Monday. The firm has a market cap of $283.81 million, a PE ratio of 33.67 and a beta of 1.90. The business has a 50 day moving average price of $7.74 and a two-hundred day moving average price of $7.49. TriplePoint Venture Growth BDC has a fifty-two week low of $6.44 and a fifty-two week high of $9.73.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $25.75 million for the quarter, compared to analyst estimates of $26.68 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. On average, analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in TriplePoint Venture Growth BDC during the fourth quarter worth $41,000. McIlrath & Eck LLC acquired a new position in TriplePoint Venture Growth BDC during the third quarter worth about $51,000. EverSource Wealth Advisors LLC raised its stake in 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 worth $74,000 after acquiring an additional 2,000 shares in the last quarter. Avenir Corp bought a new stake in shares of TriplePoint Venture Growth BDC during the fourth quarter worth about $74,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of TriplePoint Venture Growth BDC during the third quarter worth about $83,000. 12.77% of the stock is owned by institutional investors.

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.