StepStone Group (NASDAQ:STEP) PT Raised to $46.00 at Barclays

StepStone Group (NASDAQ:STEP) had its target price upped by equities researchers at Barclays from $42.00 to $46.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential downside of 1.22% from the stock’s current price.

STEP has been the topic of several other reports. UBS Group raised their price target on StepStone Group from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, June 24th. The Goldman Sachs Group raised their price target on StepStone Group from $41.25 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. upgraded StepStone Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $49.00 in a research report on Thursday, April 11th. Finally, Oppenheimer initiated coverage on StepStone Group in a research report on Wednesday, March 20th. They set an “outperform” rating and a $48.00 price target on the stock. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $39.07.

StepStone Group Stock Performance

NASDAQ:STEP opened at $46.57 on Wednesday. StepStone Group has a 52-week low of $24.60 and a 52-week high of $47.50. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 51.74 and a beta of 1.27. The business’s fifty day moving average is $42.31 and its 200 day moving average is $37.02.

StepStone Group (NASDAQ:STEP) last posted its earnings results on Thursday, May 23rd. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $177.36 million for the quarter, compared to analysts’ expectations of $162.47 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. StepStone Group’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities analysts predict that StepStone Group will post 1.7 EPS for the current fiscal year.

Insider Transactions at StepStone Group

In other news, Director David F. Hoffmeister bought 22,500 shares of the stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $44.29 per share, for a total transaction of $996,525.00. Following the purchase, the director now directly owns 45,853 shares in the company, valued at approximately $2,030,829.37. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director David F. Hoffmeister acquired 22,500 shares of the stock in a transaction on Thursday, May 30th. The stock was acquired at an average price of $44.29 per share, for a total transaction of $996,525.00. Following the completion of the purchase, the director now owns 45,853 shares of the company’s stock, valued at $2,030,829.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven R. Mitchell sold 27,500 shares of StepStone Group stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $44.34, for a total value of $1,219,350.00. Following the transaction, the director now owns 9,159 shares of the company’s stock, valued at approximately $406,110.06. The disclosure for this sale can be found here. Corporate insiders own 18.50% of the company’s stock.

Institutional Trading of StepStone Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in shares of StepStone Group by 9.8% in the 4th quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock worth $222,635,000 after purchasing an additional 627,059 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of StepStone Group by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 5,270,144 shares of the company’s stock worth $167,749,000 after purchasing an additional 90,974 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of StepStone Group by 1.6% in the 1st quarter. Wasatch Advisors LP now owns 2,948,665 shares of the company’s stock worth $105,385,000 after purchasing an additional 46,860 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of StepStone Group by 150.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock worth $30,396,000 after purchasing an additional 510,283 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of StepStone Group by 22.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 634,815 shares of the company’s stock worth $20,207,000 after purchasing an additional 116,439 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.

About StepStone Group

StepStone Group LP. 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, private equity and buyout investments in mature and middle market companies.