Barclays Reiterates “$62.00” Price Target for StepStone Group (NASDAQ:STEP)

StepStone Group (NASDAQ:STEP) received a $62.00 price target from analysts at Barclays in a report issued on Tuesday, Marketbeat.com reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 2.89% from the company’s previous close.

Several other research firms have also commented on STEP. Oppenheimer set a $67.00 price target on shares of StepStone Group and gave the company an “outperform” rating in a research report on Wednesday, April 16th. Evercore ISI lifted their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Finally, Morgan Stanley decreased their target price on shares of StepStone Group from $66.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.57.

StepStone Group Trading Up 1.6%

Shares of NASDAQ STEP opened at $60.26 on Tuesday. StepStone Group has a 12-month low of $40.07 and a 12-month high of $70.38. The stock’s fifty day simple moving average is $52.25 and its two-hundred day simple moving average is $57.83. The stock has a market capitalization of $6.99 billion, a PE ratio of -35.66 and a beta of 1.37.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.24. StepStone Group had a positive return on equity of 12.04% and a negative net margin of 11.29%. The firm had revenue of $295.86 million during the quarter, compared to analysts’ expectations of $231.87 million. During the same period in the prior year, the business posted $0.33 EPS. The firm’s quarterly revenue was up 66.8% on a year-over-year basis. On average, equities analysts predict that StepStone Group will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling at StepStone Group

In other news, CEO Scott W. Hart sold 900 shares of StepStone Group stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.01, for a total transaction of $54,009.00. Following the completion of the sale, the chief executive officer now directly owns 109,100 shares in the company, valued at approximately $6,547,091. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason P. Ment sold 55,608 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $60.71, for a total value of $3,375,961.68. Following the completion of the transaction, the insider now directly owns 34,155 shares in the company, valued at approximately $2,073,550.05. The trade was a 61.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,308 shares of company stock worth $5,279,663. 18.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of STEP. Steward Partners Investment Advisory LLC acquired a new stake in shares of StepStone Group during the fourth quarter worth about $27,000. Versant Capital Management Inc purchased a new position in StepStone Group during the 1st quarter worth approximately $35,000. IFP Advisors Inc purchased a new position in StepStone Group during the 4th quarter worth approximately $36,000. Amundi lifted its stake in StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company’s stock valued at $42,000 after acquiring an additional 154 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in StepStone Group by 444.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 969 shares of the company’s stock valued at $56,000 after acquiring an additional 791 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.