StepStone Group (NASDAQ:STEP) Price Target Lowered to $69.00 at Barclays

StepStone Group (NASDAQ:STEP) had its price target decreased by research analysts at Barclays from $70.00 to $69.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 14.38% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Morgan Stanley increased their price target on StepStone Group from $61.00 to $66.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Evercore ISI raised their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. BMO Capital Markets started coverage on shares of StepStone Group in a research note on Friday, October 3rd. They set an “outperform” rating and a $74.00 target price for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StepStone Group in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of StepStone Group from $73.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.29.

StepStone Group Trading Down 3.1%

NASDAQ STEP traded down $1.92 on Friday, reaching $60.33. 606,072 shares of the company were exchanged, compared to its average volume of 618,410. The business’s fifty day moving average price is $63.30 and its 200 day moving average price is $59.40. The stock has a market capitalization of $7.02 billion, a P/E ratio of -19.58 and a beta of 1.36. StepStone Group has a fifty-two week low of $40.07 and a fifty-two week high of $70.38.

StepStone Group (NASDAQ:STEP) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. StepStone Group had a positive return on equity of 16.07% and a negative net margin of 17.10%.The business had revenue of $282.34 million for the quarter, compared to analyst estimates of $272.15 million. During the same quarter in the previous year, the firm earned $0.45 EPS. The company’s quarterly revenue was up 35.2% compared to the same quarter last year. Equities research analysts forecast that StepStone Group will post 1.82 earnings per share for the current year.

Insiders Place Their Bets

In other StepStone Group news, CFO David Y. Park sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $63.26, for a total transaction of $63,260.00. Following the transaction, the chief financial officer owned 22,020 shares of the company’s stock, valued at $1,392,985.20. This trade represents a 4.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $64.34, for a total transaction of $643,400.00. Following the sale, the chief executive officer owned 30,000 shares in the company, valued at approximately $1,930,200. This trade represents a 25.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 31,000 shares of company stock valued at $1,968,060. Insiders own 16.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in StepStone Group by 269.8% during the 1st quarter. Millennium Management LLC now owns 2,962,826 shares of the company’s stock worth $154,748,000 after acquiring an additional 2,161,548 shares during the period. Strs Ohio bought a new stake in shares of StepStone Group during the first quarter valued at about $757,000. Teacher Retirement System of Texas acquired a new stake in StepStone Group in the first quarter worth about $499,000. KLP Kapitalforvaltning AS grew its position in StepStone Group by 12.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 14,200 shares of the company’s stock valued at $788,000 after buying an additional 1,600 shares in the last quarter. Finally, Monument Capital Management bought a new position in StepStone Group in the 2nd quarter valued at about $272,000. Institutional investors and hedge funds own 55.54% of the company’s stock.

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.