StepStone Group (NASDAQ:STEP) Price Target Increased to $51.50 by Analysts at The Goldman Sachs Group

StepStone Group (NASDAQ:STEP) had its price target increased by The Goldman Sachs Group from $46.00 to $51.50 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 3.46% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Barclays upped their price objective on shares of StepStone Group from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. raised their price target on StepStone Group from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday. Evercore ISI lifted their price target on StepStone Group from $41.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, UBS Group increased their price objective on StepStone Group from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, June 24th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.38.

StepStone Group Price Performance

Shares of STEP traded down $0.18 during mid-day trading on Monday, reaching $49.78. The company’s stock had a trading volume of 107,052 shares, compared to its average volume of 545,072. The company’s 50 day moving average is $46.03 and its 200 day moving average is $39.45. The stock has a market cap of $5.51 billion, a PE ratio of 55.31 and a beta of 1.27. StepStone Group has a 12-month low of $25.06 and a 12-month high of $51.07.

StepStone Group (NASDAQ:STEP) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.35 by $0.13. The company had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $181.15 million. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. As a group, sell-side analysts anticipate that StepStone Group will post 1.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Steven R. Mitchell sold 27,500 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $44.34, for a total transaction of $1,219,350.00. Following the completion of the transaction, the director now directly owns 9,159 shares of the company’s stock, valued at $406,110.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other StepStone Group news, Director David F. Hoffmeister bought 22,500 shares of StepStone Group stock in a transaction on Thursday, May 30th. The stock was bought at an average price of $44.29 per share, with a total value of $996,525.00. Following the completion of the acquisition, the director now owns 45,853 shares in the company, valued at $2,030,829.37. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven R. Mitchell sold 27,500 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $44.34, for a total transaction of $1,219,350.00. Following the transaction, the director now directly owns 9,159 shares in the company, valued at $406,110.06. The disclosure for this sale can be found here. 19.89% of the stock is owned by insiders.

Institutional Trading of StepStone Group

A number of institutional investors have recently added to or reduced their stakes in STEP. SG Americas Securities LLC acquired a new stake in StepStone Group in the second quarter valued at $111,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in StepStone Group in the 1st quarter valued at about $149,000. Acadian Asset Management LLC purchased a new position in StepStone Group during the 2nd quarter valued at about $206,000. MQS Management LLC acquired a new position in StepStone Group during the first quarter worth about $243,000. Finally, Versor Investments LP acquired a new position in StepStone Group during the second quarter worth about $303,000. Hedge funds and other 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.