Barclays Boosts StepStone Group (NASDAQ:STEP) Price Target to $46.00

StepStone Group (NASDAQ:STEP) had its price objective hoisted by research analysts at Barclays from $42.00 to $46.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 0.48% from the stock’s current price.

Several other brokerages also recently commented on STEP. JPMorgan Chase & Co. raised StepStone Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $40.00 to $49.00 in a research note on Thursday, April 11th. Oppenheimer assumed coverage on StepStone Group in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $48.00 price target on the stock. UBS Group lifted their price target on StepStone Group from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, June 24th. Finally, The Goldman Sachs Group lifted their price target on StepStone Group from $41.25 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, StepStone Group currently has a consensus rating of “Hold” and an average price target of $39.07.

StepStone Group Trading Up 2.4 %

Shares of StepStone Group stock opened at $45.78 on Wednesday. The company has a market capitalization of $5.07 billion, a PE ratio of 50.87 and a beta of 1.27. StepStone Group has a 12 month low of $24.08 and a 12 month high of $46.87. The stock’s fifty day simple moving average is $42.11 and its 200 day simple moving average is $36.95.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $0.33 EPS for the quarter, topping the consensus estimate 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. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. Analysts predict that StepStone Group will post 1.7 EPS for the current fiscal year.

Insider Activity

In other news, Director Steven R. Mitchell sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $44.34, for a total value of $1,219,350.00. Following the completion of the transaction, the director now owns 9,159 shares in the company, valued at approximately $406,110.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other StepStone Group news, Director David F. Hoffmeister purchased 22,500 shares of StepStone Group stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average price of $44.29 per share, for a total transaction of $996,525.00. Following the completion of the acquisition, the director now owns 45,853 shares of the company’s stock, valued at approximately $2,030,829.37. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven R. Mitchell sold 27,500 shares of StepStone Group stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $44.34, for a total value of $1,219,350.00. Following the transaction, the director now owns 9,159 shares of the company’s stock, valued at approximately $406,110.06. The disclosure for this sale can be found here. 18.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On StepStone Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in StepStone Group by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 563,606 shares of the company’s stock worth $17,940,000 after purchasing an additional 46,107 shares during the period. Los Angeles Capital Management LLC grew its holdings in StepStone Group by 74.3% during the first quarter. Los Angeles Capital Management LLC now owns 50,099 shares of the company’s stock worth $1,791,000 after purchasing an additional 21,354 shares during the period. Capital Research Global Investors grew its holdings in StepStone Group by 27.8% during the fourth quarter. Capital Research Global Investors now owns 628,532 shares of the company’s stock worth $20,006,000 after purchasing an additional 136,542 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of StepStone Group by 41.7% during the fourth quarter. Victory Capital Management Inc. now owns 16,402 shares of the company’s stock worth $522,000 after acquiring an additional 4,829 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of StepStone Group by 9.8% during the fourth quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock worth $222,635,000 after acquiring an additional 627,059 shares during the period. Institutional investors own 55.54% of the company’s stock.

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.