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

StepStone Group (NASDAQ:STEP) had its price objective hoisted by analysts at Morgan Stanley from $60.00 to $65.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock.

STEP has been the subject of a number of other reports. Oppenheimer upped their target price on shares of StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. UBS Group increased their price objective on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group lifted their target price on StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.43.

StepStone Group Price Performance

Shares of StepStone Group stock opened at $65.00 on Thursday. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 108.33 and a beta of 1.27. The firm’s fifty day simple moving average is $59.47 and its 200-day simple moving average is $50.49. StepStone Group has a 12 month low of $25.06 and a 12 month high of $70.38.

Insider Buying and Selling at StepStone Group

In other StepStone Group news, CFO David Y. Park sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the transaction, the chief financial officer now directly owns 20,251 shares in the company, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Anthony Keathley sold 729 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total transaction of $50,191.65. Following the sale, the chief accounting officer now owns 2,158 shares of the company’s stock, valued at approximately $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. 18.44% of the stock is owned by corporate insiders.

Institutional Trading of StepStone Group

Several large investors have recently bought and sold shares of the company. American International Group Inc. boosted its position in shares of StepStone Group by 1.2% in the 1st quarter. American International Group Inc. now owns 27,152 shares of the company’s stock worth $970,000 after buying an additional 322 shares in the last quarter. GAMMA Investing LLC raised its position in StepStone Group by 291.1% during the third quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after acquiring an additional 460 shares during the last quarter. KBC Group NV lifted its holdings in shares of StepStone Group by 35.7% in the third quarter. KBC Group NV now owns 1,840 shares of the company’s stock valued at $105,000 after purchasing an additional 484 shares in the last quarter. CWM LLC grew its position in shares of StepStone Group by 190.4% in the third quarter. CWM LLC now owns 1,185 shares of the company’s stock valued at $67,000 after purchasing an additional 777 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of StepStone Group by 442.7% during the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after purchasing an additional 788 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.