StepStone Group (NASDAQ:STEP) PT Raised to $55.00

StepStone Group (NASDAQ:STEP) had its price objective boosted by equities researchers at UBS Group from $44.00 to $55.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 4.64% from the company’s current price.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group lifted their target price on StepStone Group from $46.00 to $51.50 and gave the company a “neutral” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their price target on shares of StepStone Group from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Barclays lifted their price objective on StepStone Group from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Evercore ISI upped their price target on shares of StepStone Group from $41.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Morgan Stanley upped their price objective on StepStone Group from $43.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.88.

StepStone Group Stock Down 1.0 %

Shares of STEP opened at $52.56 on Wednesday. The stock has a 50 day moving average price of $47.54 and a 200 day moving average price of $40.52. StepStone Group has a 52-week low of $25.06 and a 52-week high of $54.55. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 58.40 and a beta of 1.27.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.13. The firm had revenue of $186.40 million for the quarter, compared to analysts’ expectations of $181.15 million. During the same quarter in the prior year, the business earned $0.26 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that StepStone Group will post 1.77 EPS for the current fiscal year.

Insider Activity at StepStone Group

In other StepStone Group news, Director David F. Hoffmeister bought 22,500 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average price of $44.29 per share, with a total value of $996,525.00. Following the transaction, the director now owns 45,853 shares in the company, valued at $2,030,829.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Steven R. Mitchell sold 27,500 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $44.34, for a total transaction of $1,219,350.00. Following the completion of the sale, the director now directly owns 9,159 shares of the company’s stock, valued at approximately $406,110.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David F. Hoffmeister bought 22,500 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were acquired at an average cost of $44.29 per share, for a total transaction of $996,525.00. Following the completion of the transaction, the director now owns 45,853 shares of the company’s stock, valued at approximately $2,030,829.37. The disclosure for this purchase can be found here. 19.89% of the stock is owned by insiders.

Institutional Trading of StepStone Group

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in StepStone Group in the second quarter worth about $111,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in StepStone Group during the 1st quarter valued at $149,000. Acadian Asset Management LLC bought a new stake in shares of StepStone Group during the second quarter valued at about $206,000. MQS Management LLC bought a new stake in shares of StepStone Group during the 1st quarter worth about $243,000. Finally, XTX Topco Ltd acquired a new stake in StepStone Group in the second quarter worth approximately $266,000. Institutional investors and hedge funds 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.