The Goldman Sachs Group Increases StepStone Group (NASDAQ:STEP) Price Target to $46.00

StepStone Group (NASDAQ:STEP) had its target price upped by research analysts at The Goldman Sachs Group from $41.25 to $46.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 0.70% from the stock’s current price.

A number of other brokerages have also commented on STEP. UBS Group lifted their price target on shares of StepStone Group from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Monday, June 24th. Oppenheimer started coverage on shares of StepStone Group in a research note on Wednesday, March 20th. They set an “outperform” rating and a $48.00 target price for the company. Barclays lifted their target price on shares of StepStone Group from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, May 24th. Finally, JPMorgan Chase & Co. raised shares of StepStone Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $49.00 in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $38.50.

StepStone Group Trading Down 0.1 %

StepStone Group stock traded down $0.05 during mid-day trading on Tuesday, reaching $45.68. The company had a trading volume of 10,956 shares, compared to its average volume of 528,231. The company has a market cap of $5.05 billion, a P/E ratio of 50.48 and a beta of 1.27. The business has a fifty day simple moving average of $40.77 and a 200 day simple moving average of $36.24. StepStone Group has a fifty-two week low of $23.24 and a fifty-two week high of $46.82.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings results on Thursday, May 23rd. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $177.36 million for the quarter, compared to analyst estimates of $162.47 million. StepStone Group’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. Research analysts forecast that StepStone Group will post 1.7 EPS for the current year.

Insider Buying and Selling at StepStone Group

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

Institutional Investors Weigh In On StepStone Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American International Group Inc. increased its position in shares of StepStone Group by 1.2% during the first quarter. American International Group Inc. now owns 27,152 shares of the company’s stock worth $970,000 after acquiring an additional 322 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of StepStone Group by 3.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,644 shares of the company’s stock worth $784,000 after acquiring an additional 722 shares in the last quarter. Rhumbline Advisers increased its position in shares of StepStone Group by 1.1% during the third quarter. Rhumbline Advisers now owns 72,620 shares of the company’s stock worth $2,293,000 after acquiring an additional 788 shares in the last quarter. ProShare Advisors LLC boosted its holdings in StepStone Group by 10.8% during the first quarter. ProShare Advisors LLC now owns 9,898 shares of the company’s stock worth $354,000 after purchasing an additional 963 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in StepStone Group by 0.4% during the first quarter. Lazard Asset Management LLC now owns 288,459 shares of the company’s stock worth $10,309,000 after purchasing an additional 1,061 shares during the last quarter. 55.54% of the stock is owned by institutional investors.

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.