StepStone Group (NASDAQ:STEP) Price Target Cut to $63.00 by Analysts at Evercore ISI

StepStone Group (NASDAQ:STEP) had its price target dropped by equities research analysts at Evercore ISI from $71.00 to $63.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 1.76% from the company’s previous close.

STEP has been the subject of a number of other reports. Morgan Stanley upped their price target on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased their target price on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group boosted their price target on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Barclays decreased their target price on shares of StepStone Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Finally, Oppenheimer upped their price target on StepStone Group from $73.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $67.79.

StepStone Group Stock Performance

STEP traded up $0.83 on Friday, reaching $61.91. 33,080 shares of the company’s stock were exchanged, compared to its average volume of 427,706. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 103.23 and a beta of 1.31. StepStone Group has a twelve month low of $31.49 and a twelve month high of $70.38. The company’s 50 day moving average is $62.18 and its 200-day moving average is $56.72.

Insiders Place Their Bets

In other news, insider Michael I. Mccabe sold 4,000 shares of StepStone Group stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total value of $257,000.00. Following the transaction, the insider now owns 686,516 shares of the company’s stock, valued at $44,108,653. The trade was a 0.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO David Y. Park sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the sale, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,820 shares of company stock worth $1,908,856. 18.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of StepStone Group by 368.2% during the third quarter. Barclays PLC now owns 112,019 shares of the company’s stock worth $6,366,000 after purchasing an additional 88,095 shares during the period. Amalgamated Bank increased its position in shares of StepStone Group by 749.8% in the second quarter. Amalgamated Bank now owns 16,001 shares of the company’s stock worth $734,000 after acquiring an additional 14,118 shares in the last quarter. Public Sector Pension Investment Board purchased a new position in shares of StepStone Group during the second quarter valued at $5,254,000. Geode Capital Management LLC boosted its position in 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 acquiring an additional 216,029 shares during the period. Finally, Principal Financial Group Inc. grew its stake in StepStone Group by 43.3% during the 3rd quarter. Principal Financial Group Inc. now owns 417,845 shares of the company’s stock valued at $23,746,000 after acquiring an additional 126,315 shares in the last quarter. 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.