TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Passes Below 200-Day Moving Average – Time to Sell?

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.26 and traded as low as $5.63. TriplePoint Venture Growth BDC shares last traded at $5.6650, with a volume of 425,232 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 26th. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. UBS Group lowered their price target on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Finally, Piper Sandler cut their price objective on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, TriplePoint Venture Growth BDC currently has an average rating of “Reduce” and a consensus price target of $6.25.

TriplePoint Venture Growth BDC Trading Down 3.8%

The company has a fifty day moving average price of $6.41 and a two-hundred day moving average price of $6.26. The firm has a market cap of $228.87 million, a P/E ratio of 6.66 and a beta of 1.36.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, November 5th. The investment management company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The company had revenue of $22.66 million for the quarter, compared to analyst estimates of $24.22 million. TriplePoint Venture Growth BDC had a return on equity of 12.88% and a net margin of 36.02%. As a group, sell-side analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

Insider Buying and Selling

In other news, CEO James Labe purchased 23,799 shares of the company’s stock in a transaction on Monday, January 12th. The shares were purchased at an average cost of $6.66 per share, with a total value of $158,501.34. Following the completion of the transaction, the chief executive officer owned 1,998,489 shares of the company’s stock, valued at $13,309,936.74. The trade was a 1.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sajal Srivastava bought 23,799 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was purchased at an average price of $6.66 per share, with a total value of $158,501.34. Following the completion of the purchase, the insider directly owned 1,998,489 shares in the company, valued at $13,309,936.74. The trade was a 1.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 2,316,934 shares of company stock worth $14,747,460 over the last quarter. 1.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. acquired a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $26,000. Advisory Services Network LLC bought a new position in TriplePoint Venture Growth BDC during the third quarter worth $33,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at about $35,000. Farmers & Merchants Investments Inc. lifted its stake in shares of TriplePoint Venture Growth BDC by 221.7% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock worth $67,000 after buying an additional 7,093 shares during the last quarter. Finally, Bluefin Capital Management LLC acquired a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth about $105,000. 12.77% of the stock is currently owned by institutional investors.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.