The Goldman Sachs Group Issues Positive Forecast for StepStone Group (NASDAQ:STEP) Stock Price

StepStone Group (NASDAQ:STEP) had its target price increased by equities research analysts at The Goldman Sachs Group from $64.00 to $70.50 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 7.54% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Oppenheimer boosted their price target on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Evercore ISI increased their target price on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Barclays raised their price target on StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. increased their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, Morgan Stanley lifted their target price on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $64.36.

StepStone Group Price Performance

NASDAQ STEP traded up $0.80 during trading hours on Tuesday, reaching $65.56. 59,938 shares of the company’s stock traded hands, compared to its average volume of 573,165. StepStone Group has a 52-week low of $25.06 and a 52-week high of $70.38. The firm has a 50-day simple moving average of $59.70 and a 200 day simple moving average of $50.90. The firm has a market cap of $7.55 billion, a PE ratio of 109.27 and a beta of 1.27.

Insider Activity at StepStone Group

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its stake in shares of StepStone Group by 399.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 52,973 shares of the company’s stock worth $3,010,000 after acquiring an additional 42,373 shares during the period. Geode Capital Management LLC boosted its stake in StepStone Group by 17.4% in the 3rd 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 during the period. Barclays PLC grew its holdings in StepStone Group by 368.2% during the 3rd quarter. Barclays PLC now owns 112,019 shares of the company’s stock valued at $6,366,000 after buying an additional 88,095 shares in the last quarter. National Bank of Canada FI raised its position in shares of StepStone Group by 8.9% during the third quarter. National Bank of Canada FI now owns 118,134 shares of the company’s stock valued at $6,713,000 after buying an additional 9,639 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of StepStone Group by 12.4% in the third quarter. State Street Corp now owns 2,401,034 shares of the company’s stock worth $136,451,000 after buying an additional 265,240 shares in the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

StepStone Group Company Profile

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.