StepStone Group (NASDAQ:STEP) Stock Price Expected to Rise, Oppenheimer Analyst Says

StepStone Group (NASDAQ:STEP) had its price objective boosted by equities researchers at Oppenheimer from $73.00 to $84.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 35.59% from the company’s current price.

Several other research analysts also recently issued reports on STEP. The Goldman Sachs Group raised their price objective on shares of StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Barclays lowered their price target on StepStone Group from $72.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. UBS Group upped their price objective on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley lifted their target price on StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Evercore ISI upped their price target on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.64.

StepStone Group Trading Down 0.1 %

STEP stock opened at $61.95 on Thursday. The company has a market capitalization of $7.13 billion, a P/E ratio of 103.25 and a beta of 1.27. The business has a 50 day simple moving average of $62.76 and a 200-day simple moving average of $54.11. StepStone Group has a twelve month low of $28.35 and a twelve month high of $70.38.

Insider Buying and Selling

In related news, insider Michael I. Mccabe sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total value of $257,000.00. Following the completion of the sale, the insider now owns 686,516 shares in the company, valued at $44,108,653. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Anthony Keathley sold 729 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total transaction of $50,191.65. Following the transaction, the chief accounting officer now owns 2,158 shares in the company, valued at $148,578.30. The trade was a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,820 shares of company stock valued at $1,908,856 over the last quarter. Company insiders own 18.44% of the company’s stock.

Institutional Investors Weigh In On StepStone Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in StepStone Group by 12.4% in the 3rd quarter. State Street Corp now owns 2,401,034 shares of the company’s stock valued at $136,451,000 after purchasing an additional 265,240 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of StepStone Group by 991.1% in the second quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock valued at $13,378,000 after buying an additional 264,811 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of StepStone Group by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after buying an additional 225,201 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of StepStone Group by 17.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock worth $82,856,000 after buying an additional 216,029 shares during the last quarter. Finally, FMR LLC boosted its position in shares of StepStone Group by 3.7% in the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company’s stock worth $227,310,000 after buying an additional 141,637 shares in the last quarter. 55.54% of the stock is currently owned by institutional investors and hedge funds.

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.