Morgan Stanley Forecasts Strong Price Appreciation for StepStone Group (NASDAQ:STEP) Stock

StepStone Group (NASDAQ:STEP) had its price target boosted by investment analysts at Morgan Stanley from $60.00 to $65.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 0.02% from the company’s current price.

Other equities analysts have also issued research reports about the company. 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. Oppenheimer increased their target price on shares of StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays boosted their price target on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. UBS Group increased their price objective on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group boosted their target price on StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, StepStone Group has an average rating of “Hold” and a consensus target price of $62.43.

StepStone Group Stock Up 1.4 %

NASDAQ STEP traded up $0.89 on Thursday, reaching $65.01. The stock had a trading volume of 73,870 shares, compared to its average volume of 573,536. The stock has a fifty day moving average price of $58.98 and a two-hundred day moving average price of $50.19. StepStone Group has a 12-month low of $25.06 and a 12-month high of $70.38. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 108.35 and a beta of 1.27.

Insider Activity at StepStone Group

In other news, CFO David Y. Park sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the sale, the chief financial officer now owns 20,251 shares in the company, valued at approximately $1,381,320.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other StepStone Group news, CFO David Y. Park sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the transaction, the chief financial officer now owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On StepStone Group

A number of institutional investors have recently modified their holdings of the business. Public Sector Pension Investment Board grew its position in StepStone Group by 16.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 132,888 shares of the company’s stock worth $7,552,000 after purchasing an additional 18,403 shares during the last quarter. FORA Capital LLC purchased a new position in shares of StepStone Group during the third quarter worth about $717,000. MetLife Investment Management LLC increased its position in StepStone Group by 15.8% in the 3rd quarter. MetLife Investment Management LLC now owns 35,418 shares of the company’s stock valued at $2,013,000 after acquiring an additional 4,825 shares during the period. FMR LLC raised its stake in StepStone Group by 3.7% during the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company’s stock valued at $227,310,000 after acquiring an additional 141,637 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in StepStone Group by 3.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 33,223 shares of the company’s stock worth $1,888,000 after acquiring an additional 1,155 shares during the period. 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.