StepStone Group LP (NASDAQ:STEP) Receives $61.64 Consensus Price Target from Brokerages

StepStone Group LP (NASDAQ:STEP) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $61.64.

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

Insider Transactions at StepStone Group

In other news, CEO Scott W. Hart sold 900 shares of StepStone Group stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $60.01, for a total value of $54,009.00. Following the completion of the transaction, the chief executive officer now owns 109,100 shares in the company, valued at approximately $6,547,091. The trade was a 0.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason P. Ment sold 800 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.02, for a total value of $48,016.00. Following the sale, the insider now owns 90,663 shares in the company, 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. Insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of STEP. Barclays PLC raised its position in StepStone Group by 368.2% in the 3rd quarter. Barclays PLC now owns 112,019 shares of the company’s stock worth $6,366,000 after purchasing an additional 88,095 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of StepStone Group during the fourth quarter valued at approximately $388,000. Cibc World Markets Corp purchased a new stake in shares of StepStone Group in the fourth quarter worth approximately $355,000. Proficio Capital Partners LLC bought a new stake in shares of StepStone Group during the 4th quarter worth approximately $941,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in StepStone Group during the 4th quarter valued at $331,000. 55.54% of the stock is owned by hedge funds and other institutional investors.

StepStone Group Stock Performance

NASDAQ:STEP opened at $56.24 on Monday. The stock has a 50-day simple moving average of $51.86 and a two-hundred day simple moving average of $58.00. The firm has a market capitalization of $6.52 billion, a PE ratio of -33.28 and a beta of 1.37. StepStone Group has a 52-week low of $36.97 and a 52-week high of $70.38.

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.