Insider Buying: TriplePoint Venture Growth BDC (NYSE:TPVG) CEO Purchases 24,000 Shares of Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe acquired 24,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were bought at an average cost of $6.57 per share, for a total transaction of $157,680.00. Following the purchase, the chief executive officer owned 1,222,766 shares of the company’s stock, valued at approximately $8,033,572.62. The trade was a 2.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

James Labe also recently made the following trade(s):

• On Thursday, December 4th, James Labe purchased 47,713 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.62 per share, for a total transaction of $315,860.06.
• On Monday, December 1st, James Labe bought 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.40 per share, with a total value of $320,000.00.
• On Monday, November 24th, James Labe acquired 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.31 per share, for a total transaction of $315,500.00.
• On Friday, November 21st, James Labe acquired 39,760 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost of $6.30 per share, with a total value of $250,488.00.
• On Thursday, November 20th, James Labe bought 42,999 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.28 per share, for a total transaction of $270,033.72.
• On Wednesday, November 19th, James Labe purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost of $6.19 per share, for a total transaction of $309,500.00.
• On Tuesday, November 18th, James Labe acquired 27,439 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.06 per share, with a total value of $166,280.34.
• On Monday, November 17th, James Labe acquired 44,648 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.06 per share, for a total transaction of $270,566.88.
• On Friday, November 14th, James Labe bought 46,700 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average cost of $5.99 per share, for a total transaction of $279,733.00.
• On Wednesday, November 12th, James Labe bought 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $5.95 per share, with a total value of $297,500.00.

TriplePoint Venture Growth BDC Price Performance

NYSE:TPVG traded up $0.17 during trading hours on Friday, reaching $6.81. 287,552 shares of the company were exchanged, compared to its average volume of 325,144. The firm has a market cap of $275.12 million, a price-to-earnings ratio of 8.01 and a beta of 1.35. The stock has a 50 day simple moving average of $5.83 and a 200 day simple moving average of $6.45. TriplePoint Venture Growth BDC Corp. has a 52-week low of $5.24 and a 52-week high of $8.33.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, November 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The company had revenue of $22.66 million for the quarter, compared to analysts’ expectations of $24.22 million. TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. On average, analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, December 16th. This represents a $0.92 annualized dividend and a yield of 13.5%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 108.24%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Weiss Ratings restated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Monday. Zacks Research cut shares of TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. UBS Group dropped their price objective 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, Wall Street Zen downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $6.25.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP lifted its position in shares of TriplePoint Venture Growth BDC by 58.6% during the third quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock worth $3,535,000 after purchasing an additional 226,479 shares in the last quarter. Marshall Wace LLP grew its holdings in TriplePoint Venture Growth BDC by 44.9% during the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock valued at $3,710,000 after purchasing an additional 163,916 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in TriplePoint Venture Growth BDC during the 3rd quarter worth $173,000. Aquatic Capital Management LLC lifted its holdings in TriplePoint Venture Growth BDC by 251.3% in the 3rd quarter. Aquatic Capital Management LLC now owns 41,137 shares of the investment management company’s stock worth $237,000 after buying an additional 29,427 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in TriplePoint Venture Growth BDC in the 3rd quarter worth $165,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

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.