StepStone Group (NASDAQ:STEP) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

StepStone Group (NASDAQ:STEP) had its price objective boosted by analysts at The Goldman Sachs Group from $64.00 to $70.50 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 8.05% from the stock’s previous close.

STEP has been the topic of several other research reports. Morgan Stanley lifted their target price on shares of StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Barclays boosted their price objective on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. upped their price target on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Oppenheimer increased their price objective on shares of StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group increased their price objective on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $64.36.

StepStone Group Trading Down 0.1 %

NASDAQ STEP opened at $65.25 on Tuesday. The stock has a market cap of $7.51 billion, a P/E ratio of 108.75 and a beta of 1.27. StepStone Group has a 12-month low of $25.06 and a 12-month high of $70.38. The company has a fifty day simple moving average of $60.26 and a two-hundred day simple moving average of $51.20.

Insiders Place Their Bets

In related news, CFO David Y. Park sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Anthony Keathley sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the sale, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at $148,578.30. The trade was a 25.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company’s stock.

Hedge Funds Weigh In On StepStone Group

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in StepStone Group by 291.1% in the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after buying an additional 460 shares during the last quarter. Blue Trust Inc. raised its position in StepStone Group by 1,586.3% in the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company’s stock valued at $49,000 after buying an additional 809 shares during the last quarter. US Bancorp DE raised its position in StepStone Group by 442.7% in the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock valued at $55,000 after buying an additional 788 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of StepStone Group during the 3rd quarter worth approximately $63,000. Finally, CWM LLC increased its position in shares of StepStone Group by 190.4% during the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after purchasing an additional 777 shares during the last quarter. Institutional investors 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.