StepStone Group (NASDAQ:STEP) Given New $85.00 Price Target at Oppenheimer

StepStone Group (NASDAQ:STEP) had its price objective lifted by equities research analysts at Oppenheimer from $81.00 to $85.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 31.41% from the stock’s current price.

A number of other brokerages also recently commented on STEP. Evercore ISI reduced their price objective on shares of StepStone Group from $71.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. UBS Group lifted their price target 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. The Goldman Sachs Group lifted their price target on shares of StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Morgan Stanley lifted their price target 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. Finally, Barclays reduced their price target on shares of StepStone Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and three have given 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 $67.93.

StepStone Group Stock Up 1.1 %

StepStone Group stock traded up $0.72 during midday trading on Friday, reaching $64.68. The company’s stock had a trading volume of 330,065 shares, compared to its average volume of 452,248. StepStone Group has a fifty-two week low of $32.58 and a fifty-two week high of $70.38. The company has a market cap of $7.45 billion, a P/E ratio of 107.89 and a beta of 1.31. The business has a 50-day simple moving average of $61.36 and a 200-day simple moving average of $58.48.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $271.68 million for the quarter, compared to analysts’ expectations of $215.51 million. During the same period in the previous year, the business posted $0.26 EPS. As a group, equities analysts forecast that StepStone Group will post 1.82 earnings per share for the current year.

Insider Buying and Selling at StepStone Group

In other StepStone Group news, 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 value of $50,191.65. Following the transaction, the chief accounting officer now owns 2,158 shares in the company, valued at approximately $148,578.30. The trade was a 25.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Y. Park sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the transaction, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at $1,381,320.71. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,820 shares of company stock worth $1,908,856. 18.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its holdings in shares of StepStone Group by 3.7% during the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company’s stock worth $227,310,000 after purchasing an additional 141,637 shares during the period. State Street Corp boosted its position in StepStone Group by 12.4% in the third quarter. State Street Corp now owns 2,401,034 shares of the company’s stock valued at $136,451,000 after buying an additional 265,240 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of StepStone Group by 17.4% during the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock worth $82,856,000 after purchasing an additional 216,029 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of StepStone Group by 11.9% during the third quarter. Franklin Resources Inc. now owns 805,195 shares of the company’s stock worth $48,279,000 after purchasing an additional 85,904 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of StepStone Group during the fourth quarter worth approximately $46,163,000. 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.