Evercore ISI Lowers StepStone Group (NASDAQ:STEP) Price Target to $63.00

StepStone Group (NASDAQ:STEP) had its price objective reduced by analysts at Evercore ISI from $71.00 to $63.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 2.32% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. Barclays cut their price objective on shares of StepStone Group from $72.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. The Goldman Sachs Group boosted their price target on StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Oppenheimer increased their price objective on StepStone Group from $73.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted 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. Finally, Morgan Stanley raised 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 note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $67.79.

StepStone Group Stock Performance

NASDAQ STEP opened at $61.57 on Friday. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 102.62 and a beta of 1.31. The business has a 50 day simple moving average of $62.05 and a 200 day simple moving average of $56.83. StepStone Group has a 52-week low of $31.49 and a 52-week high of $70.38.

Insider Activity

In other StepStone Group news, CEO Scott W. Hart sold 22,091 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $63.24, for a total transaction of $1,397,034.84. Following the transaction, the chief executive officer now owns 157,909 shares in the company, valued at $9,986,165.16. This trade represents a 12.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Anthony Keathley sold 729 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total transaction of $50,191.65. Following the completion of the sale, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at $148,578.30. This represents a 25.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,820 shares of company stock valued at $1,908,856 in the last quarter. Company insiders own 18.44% of the company’s stock.

Hedge Funds Weigh In On StepStone Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. acquired a new stake in shares of StepStone Group during the 4th quarter worth approximately $29,000. Nisa Investment Advisors LLC raised its holdings in shares of StepStone Group by 166.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,602 shares of the company’s stock worth $93,000 after buying an additional 1,000 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of StepStone Group by 9.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 16,474 shares of the company’s stock worth $954,000 after acquiring an additional 1,387 shares during the last quarter. GAMMA Investing LLC increased its position in StepStone Group by 36.6% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock worth $49,000 after purchasing an additional 226 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of StepStone Group by 43.3% during the third quarter. Principal Financial Group Inc. now owns 417,845 shares of the company’s stock worth $23,746,000 after buying an additional 126,315 shares in the last quarter. 55.54% of the stock is owned by institutional investors and hedge funds.

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.