Wells Fargo & Company Increases TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target to $7.50

TriplePoint Venture Growth BDC (NYSE:TPVG) had its target price lifted by equities researchers at Wells Fargo & Company from $6.50 to $7.50 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the investment management company’s stock. Wells Fargo & Company‘s target price points to a potential downside of 5.72% from the company’s previous close.

TPVG has been the subject of several other reports. Keefe, Bruyette & Woods raised shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their price objective for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. StockNews.com raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.50 to $8.00 in a report on Friday, August 9th. Finally, Piper Sandler cut their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.85.

TriplePoint Venture Growth BDC Stock Down 0.3 %

TriplePoint Venture Growth BDC stock opened at $7.96 on Tuesday. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $11.58. The firm has a 50 day moving average price of $7.05 and a 200-day moving average price of $7.96. The company has a market capitalization of $318.60 million, a P/E ratio of 37.88 and a beta of 1.80.

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

Institutional Trading of TriplePoint Venture Growth BDC

Several institutional investors and hedge funds have recently made changes to their positions in the stock. McIlrath & Eck LLC purchased a new stake in shares of TriplePoint Venture Growth BDC during the 3rd quarter valued at $51,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of TriplePoint Venture Growth BDC during the 3rd quarter valued at $307,000. XTX Topco Ltd bought a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter valued at $118,000. Jane Street Group LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 712.4% during the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after purchasing an additional 92,072 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter valued at $99,000. Hedge funds and other institutional investors 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.