Trinity Capital (NASDAQ:TRIN) Price Target Lowered to $13.00 at Wells Fargo & Company

Trinity Capital (NASDAQ:TRIN - Get Free Report) had its price objective cut by Wells Fargo & Company from $14.00 to $13.00 in a research note issued on Tuesday, October 29th, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target indicates a potential downside of 4.90% from the company's previous close.

Trinity Capital Price Performance

NASDAQ TRIN opened at $13.67 on Tuesday. The company has a market cap of $805.25 million, a P/E ratio of 7.99 and a beta of 0.55. Trinity Capital has a 1 year low of $13.05 and a 1 year high of $15.44. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $13.83 and a 200 day simple moving average of $14.30.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.02). Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. The business had revenue of $54.64 million during the quarter, compared to the consensus estimate of $53.17 million. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, sell-side analysts predict that Trinity Capital will post 2.09 EPS for the current year.

Insider Activity

In other Trinity Capital news, CEO Kyle Steven Brown bought 7,562 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $13.39 per share, for a total transaction of $101,255.18. Following the transaction, the chief executive officer now owns 964,832 shares in the company, valued at approximately $12,919,100.48. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Kyle Steven Brown purchased 7,562 shares of the stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $13.39 per share, for a total transaction of $101,255.18. Following the completion of the transaction, the chief executive officer now directly owns 964,832 shares of the company's stock, valued at approximately $12,919,100.48. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steve Louis Brown acquired 19,350 shares of the company's stock in a transaction on Monday, November 4th. The shares were bought at an average price of $13.12 per share, with a total value of $253,872.00. Following the completion of the purchase, the chairman now directly owns 722,182 shares of the company's stock, valued at approximately $9,475,027.84. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 35,299 shares of company stock worth $471,608. 6.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Trinity Capital

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in Trinity Capital by 127.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 68,021 shares of the company's stock valued at $999,000 after purchasing an additional 38,172 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Trinity Capital by 14.5% in the first quarter. Van ECK Associates Corp now owns 911,266 shares of the company's stock worth $13,377,000 after acquiring an additional 115,134 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of Trinity Capital by 77.0% during the first quarter. Quantbot Technologies LP now owns 39,228 shares of the company's stock worth $576,000 after purchasing an additional 17,068 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Trinity Capital by 51.6% during the first quarter. Advisors Asset Management Inc. now owns 32,358 shares of the company's stock valued at $475,000 after purchasing an additional 11,011 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in Trinity Capital in the 1st quarter worth approximately $195,000. 24.62% of the stock is owned by institutional investors.

Trinity Capital Company Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.