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

StepStone Group (NASDAQ:STEP) had its price target hoisted by Evercore ISI from $63.00 to $69.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 15.12% from the company’s current price.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group lifted their target price 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 lifted their price objective on shares of StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Oppenheimer increased their target price on StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, February 7th. UBS Group lifted their price target on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley increased their price objective on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $69.21.

StepStone Group Trading Down 3.0 %

Shares of STEP opened at $59.94 on Monday. The business’s 50-day moving average price is $61.27 and its 200 day moving average price is $58.82. The stock has a market capitalization of $6.90 billion, a P/E ratio of -35.47 and a beta of 1.31. StepStone Group has a 1-year low of $32.58 and a 1-year high of $70.38.

Insider Activity at StepStone Group

In related news, insider Michael I. Mccabe sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 in the company, valued at approximately $44,108,653. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Scott W. Hart sold 22,091 shares of StepStone Group stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $63.24, for a total transaction of $1,397,034.84. Following the completion of the sale, the chief executive officer now owns 157,909 shares of the company’s stock, valued at $9,986,165.16. This trade represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of STEP. Steward Partners Investment Advisory LLC bought a new stake in StepStone Group in the fourth quarter worth $27,000. Raleigh Capital Management Inc. bought a new stake in shares of StepStone Group during the 4th quarter worth about $29,000. IFP Advisors Inc bought a new stake in shares of StepStone Group during the 4th quarter worth about $36,000. GAMMA Investing LLC increased its holdings in shares of StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after acquiring an additional 460 shares during the last quarter. Finally, Amundi raised its stake in shares of StepStone Group by 26.7% in the 4th quarter. Amundi now owns 730 shares of the company’s stock valued at $42,000 after acquiring an additional 154 shares in the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

About StepStone Group

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.