Trinity Capital (NASDAQ:TRIN) Earns “Underweight” Rating from Wells Fargo & Company

Trinity Capital (NASDAQ:TRIN)‘s stock had its “underweight” rating reissued by Wells Fargo & Company in a report issued on Monday,Benzinga reports. They currently have a $13.00 price target on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 11.38% from the stock’s current price.

Trinity Capital Trading Up 1.3 %

Shares of NASDAQ:TRIN opened at $14.67 on Monday. The stock has a market cap of $864.21 million, a PE ratio of 8.58 and a beta of 0.55. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. Trinity Capital has a 12-month low of $13.05 and a 12-month high of $15.44. The business has a 50 day moving average of $13.93 and a 200-day moving average of $14.23.

Insider Transactions at Trinity Capital

In other Trinity Capital news, Chairman Steve Louis Brown bought 19,350 shares of the stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of $13.12 per share, with a total value of $253,872.00. Following the completion of the acquisition, the chairman now owns 722,182 shares of the company’s stock, valued at $9,475,027.84. This trade represents a 2.75 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kyle Steven Brown purchased 7,562 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $13.39 per share, with a total value of $101,255.18. Following the completion of the purchase, the chief executive officer now owns 964,832 shares of the company’s stock, valued at $12,919,100.48. This trade represents a 0.79 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 29,702 shares of company stock valued at $392,696. 6.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Trinity Capital

Several large investors have recently made changes to their positions in TRIN. Franklin Resources Inc. lifted its position in shares of Trinity Capital by 21.8% during the 3rd quarter. Franklin Resources Inc. now owns 186,356 shares of the company’s stock worth $2,583,000 after buying an additional 33,352 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Trinity Capital during the third quarter worth about $255,000. McIlrath & Eck LLC acquired a new position in Trinity Capital during the third quarter worth about $57,000. Y Intercept Hong Kong Ltd bought a new position in shares of Trinity Capital in the third quarter worth about $171,000. Finally, XTX Topco Ltd acquired a new stake in shares of Trinity Capital in the 3rd quarter valued at approximately $532,000. Institutional investors and hedge funds own 24.62% of the company’s stock.

About Trinity Capital

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.