StepStone Group (NASDAQ:STEP) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

StepStone Group (NASDAQ:STEP – Get Rating) released its quarterly earnings data on Wednesday. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04), Briefing.com reports. The business had revenue of $152.94 million during the quarter, compared to analyst estimates of $145.36 million. During the same period in the prior year, the firm earned $0.38 EPS. The business’s revenue was up 5.4% on a year-over-year basis.

StepStone Group Price Performance

STEP stock opened at $21.14 on Friday. The business has a 50 day simple moving average of $22.74 and a 200-day simple moving average of $26.35. StepStone Group has a twelve month low of $19.83 and a twelve month high of $32.12.

Analyst Ratings Changes

A number of research firms recently issued reports on STEP. Barclays dropped their price target on shares of StepStone Group from $26.00 to $25.00 in a research note on Thursday. Morgan Stanley lowered their target price on shares of StepStone Group from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 19th. JPMorgan Chase & Co. reduced their target price on shares of StepStone Group from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, February 13th. TheStreet lowered shares of StepStone Group from a “c-” rating to a “d+” rating in a research report on Thursday, May 4th. Finally, The Goldman Sachs Group increased their price objective on shares of StepStone Group from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, February 10th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, StepStone Group presently has an average rating of “Hold” and an average price target of $32.80.

Insiders Place Their Bets

In other StepStone Group news, CAO David Y. Park sold 2,400 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $28.52, for a total value of $68,448.00. Following the transaction, the chief accounting officer now directly owns 31,864 shares of the company’s stock, valued at approximately $908,761.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 20.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of StepStone Group in the first quarter valued at about $36,000. Ensign Peak Advisors Inc lifted its stake in StepStone Group by 67.1% in the 3rd quarter. Ensign Peak Advisors Inc now owns 1,170 shares of the company’s stock valued at $29,000 after buying an additional 470 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in StepStone Group by 57.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,389 shares of the company’s stock valued at $34,000 after buying an additional 507 shares during the last quarter. Captrust Financial Advisors grew its holdings in StepStone Group by 5,132.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,465 shares of the company’s stock valued at $38,000 after buying an additional 1,437 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in StepStone Group by 21.5% during the first quarter. PNC Financial Services Group Inc. now owns 7,535 shares of the company’s stock worth $250,000 after buying an additional 1,332 shares in the last quarter. 93.82% of the stock is currently owned by institutional investors and hedge funds.

About StepStone Group

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