TriplePoint Venture Growth BDC (NYSE:TPVG) CEO Acquires 47,713 Shares

by · The Cerbat Gem

TriplePoint Venture Growth BDC Corp. (NYSE:TPVGGet Free Report) CEO James Labe purchased 47,713 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were purchased at an average price of $6.62 per share, for a total transaction of $315,860.06. Following the completion of the acquisition, the chief executive officer owned 1,270,479 shares of the company’s stock, valued at $8,410,570.98. The trade was a 3.90% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Wednesday, December 3rd, James Labe bought 24,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.57 per share, for a total transaction of $157,680.00.
  • On Monday, December 1st, James Labe bought 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.40 per share, for a total transaction of $320,000.00.
  • On Monday, November 24th, James Labe purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.31 per share, with a total value of $315,500.00.
  • On Friday, November 21st, James Labe bought 39,760 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.30 per share, with a total value of $250,488.00.
  • On Thursday, November 20th, James Labe purchased 42,999 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.28 per share, with a total value of $270,033.72.
  • On Wednesday, November 19th, James Labe purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was bought 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 purchased at an average cost of $6.06 per share, with a total value of $166,280.34.
  • On Monday, November 17th, James Labe bought 44,648 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.06 per share, with a total value of $270,566.88.
  • On Friday, November 14th, James Labe bought 46,700 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $5.99 per share, for a total transaction of $279,733.00.
  • On Wednesday, November 12th, James Labe purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $5.95 per share, for a total transaction of $297,500.00.

TriplePoint Venture Growth BDC Stock Up 2.6%

TPVG traded up $0.17 during trading hours on Friday, hitting $6.81. The stock had a trading volume of 287,552 shares, compared to its average volume of 325,144. TriplePoint Venture Growth BDC Corp. has a 1 year low of $5.24 and a 1 year high of $8.33. The company’s fifty day simple moving average is $5.83 and its 200 day simple moving average is $6.45. The stock has a market cap of $275.12 million, a PE ratio of 8.01 and a beta of 1.35.

TriplePoint Venture Growth BDC (NYSE:TPVGGet Free Report) last issued its earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The business had revenue of $22.66 million for the quarter, compared to the consensus estimate 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, equities analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

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

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Hedge funds have recently made changes to their positions in the business. Norden Group LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 36.4% during the 2nd quarter. Norden Group LLC now owns 56,848 shares of the investment management company’s stock valued at $399,000 after purchasing an additional 15,160 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in TriplePoint Venture Growth BDC by 23.2% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 40,380 shares of the investment management company’s stock valued at $283,000 after buying an additional 7,600 shares during the period. HighTower Advisors LLC bought a new position in shares of TriplePoint Venture Growth BDC during the first quarter valued at about $72,000. Samalin Investment Counsel LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 13.1% in the second quarter. Samalin Investment Counsel LLC now owns 92,636 shares of the investment management company’s stock worth $649,000 after buying an additional 10,730 shares during the period. Finally, Quarry LP lifted its stake in shares of TriplePoint Venture Growth BDC by 53.6% in the 1st quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock valued at $33,000 after acquiring an additional 1,629 shares during the last quarter. 12.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on TPVG shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research note on Monday. Piper Sandler decreased their price target on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Zacks Research downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Wall Street Zen cut shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, UBS Group decreased their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $6.25.

Get Our Latest Analysis on TPVG

About TriplePoint Venture Growth BDC

(Get Free Report)

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.

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