TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Raised to $8.00

TriplePoint Venture Growth BDC (NYSE:TPVG) had its target price lifted by research analysts at Piper Sandler from $7.50 to $8.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the investment management company’s stock. Piper Sandler’s price objective would indicate a potential upside of 2.76% from the stock’s current price.

TPVG has been the subject of a number of other research reports. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and lowered their price target for the company from $8.00 to $7.50 in a report on Thursday, November 7th. StockNews.com upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Compass Point boosted 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, December 5th. Finally, Wells Fargo & Company boosted their price target on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a report on Tuesday, November 19th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.80.

TriplePoint Venture Growth BDC Trading Down 1.8 %

TPVG opened at $7.79 on Thursday. The firm has a market cap of $311.78 million, a P/E ratio of 37.07 and a beta of 1.88. TriplePoint Venture Growth BDC has a 12 month low of $6.44 and a 12 month high of $11.01. The stock has a 50-day moving average of $7.77 and a 200 day moving average of $7.51.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (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. On average, research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of large investors have recently made changes to their positions in TPVG. Two Sigma Investments LP increased its position in shares of TriplePoint Venture Growth BDC by 21.9% during the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company’s stock worth $5,004,000 after purchasing an additional 122,039 shares in the last quarter. Jane Street Group LLC increased its position in shares of TriplePoint Venture Growth BDC by 712.4% during the third quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock worth $741,000 after purchasing an additional 92,072 shares in the last quarter. Millennium Management LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 180.1% during the fourth quarter. Millennium Management LLC now owns 120,602 shares of the investment management company’s stock valued at $890,000 after buying an additional 77,551 shares during the last quarter. Alpine Global Management LLC purchased a new stake in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at $477,000. Finally, Trexquant Investment LP grew its holdings in shares of TriplePoint Venture Growth BDC by 35.5% during the fourth quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company’s stock valued at $1,676,000 after buying an additional 59,462 shares during the last quarter. 12.77% of the stock is owned by institutional investors and hedge funds.

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.