StepStone Group LP (NASDAQ:STEP) Receives $61.64 Average Price Target from Analysts

Shares of StepStone Group LP (NASDAQ:STEP) have earned a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $61.64.

STEP has been the subject of a number of research reports. Barclays lowered their price target on StepStone Group from $69.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Oppenheimer set a $67.00 price target on StepStone Group and gave the stock an “outperform” rating in a research report on Wednesday, April 16th. Morgan Stanley cut their price target on StepStone Group from $66.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Finally, Evercore ISI upped their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th.

StepStone Group Price Performance

Shares of STEP opened at $56.24 on Monday. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of -33.28 and a beta of 1.37. The company has a 50-day moving average of $51.86 and a 200 day moving average of $58.00. StepStone Group has a 1-year low of $36.97 and a 1-year high of $70.38.

Insider Buying and Selling

In other news, CEO Scott W. Hart sold 900 shares of StepStone Group stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $60.01, for a total value of $54,009.00. Following the transaction, the chief executive officer now owns 109,100 shares of the company’s stock, valued at $6,547,091. The trade was a 0.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason P. Ment sold 800 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $60.02, for a total transaction of $48,016.00. Following the sale, the insider now directly owns 90,663 shares of the company’s stock, valued at $5,441,593.26. The trade was a 0.87% decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On StepStone Group

Several institutional investors and hedge funds have recently bought and sold shares of STEP. Millennium Management LLC lifted its holdings in shares of StepStone Group by 269.8% during the 1st quarter. Millennium Management LLC now owns 2,962,826 shares of the company’s stock valued at $154,748,000 after purchasing an additional 2,161,548 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in StepStone Group by 19.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,599,875 shares of the company’s stock valued at $324,122,000 after buying an additional 895,521 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in StepStone Group in the fourth quarter valued at about $46,163,000. Massachusetts Financial Services Co. MA purchased a new stake in StepStone Group in the fourth quarter valued at about $32,340,000. Finally, Ameriprise Financial Inc. boosted its holdings in StepStone Group by 353.2% in the fourth quarter. Ameriprise Financial Inc. now owns 661,799 shares of the company’s stock worth $38,305,000 after acquiring an additional 515,760 shares in the last quarter. 55.54% of the stock is owned by hedge funds and other institutional investors.

StepStone Group Company Profile

StepStone Group Inc is a private equity and venture capital firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in private debt, venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, buyout investments in mature and middle market companies.