Fintel reports that on May 4, 2023, Wells Fargo downgraded their outlook for TriplePoint Venture Growth BDC (NYSE:TPVG) from Overweight to Equal-Weight .
Analyst Price Forecast Suggests 17.04% Upside
As of April 24, 2023, the average one-year price target for TriplePoint Venture Growth BDC is 12.56. The forecasts range from a low of 9.60 to a high of $15.22. The average price target represents an increase of 17.04% from its latest reported closing price of 10.73.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for TriplePoint Venture Growth BDC is 134MM, an increase of 12.58%. The projected annual non-GAAP EPS is 1.84.
What is the Fund Sentiment?
There are 107 funds or institutions reporting positions in TriplePoint Venture Growth BDC. This is an increase of 6 owner(s) or 5.94% in the last quarter. Average portfolio weight of all funds dedicated to TPVG is 0.15%, an increase of 15.64%. Total shares owned by institutions decreased in the last three months by 17.43% to 7,129K shares. 
The put/call ratio of TPVG is 1.18, indicating a bearish outlook.
What are Other Shareholders Doing?
KBWD - Invesco KBW High Dividend Yield Financial ETF holds 814K shares.
Invesco holds 802K shares. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Sound Income Strategies holds 704K shares. In it's prior filing, the firm reported owning 640K shares, representing an increase of 9.13%. The firm increased its portfolio allocation in TPVG by 18.18% over the last quarter.
Van Eck Associates holds 514K shares. In it's prior filing, the firm reported owning 479K shares, representing an increase of 6.70%. The firm increased its portfolio allocation in TPVG by 9.39% over the last quarter.
BIZD - VanEck Vectors BDC Income ETF holds 485K shares. In it's prior filing, the firm reported owning 439K shares, representing an increase of 9.62%. The firm decreased its portfolio allocation in TPVG by 9.51% over the last quarter.
TriplePoint Venture Growth BDC Background Information
(This description is provided by the company.)
TriplePoint Venture Growth BDC Corp. was formed to expand the venture growth stage business segment of TriplePoint Capital LLC, the leading global provider of financing across all stages of development to technology, life sciences and other high growth companies backed by a select group of venture capital firms. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by lending primarily with warrants to venture growth stage companies. The Company is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended.
See all TriplePoint Venture Growth BDC regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
