The Goldman Sachs Group Forecasts Strong Price Appreciation for StepStone Group (NASDAQ:STEP) Stock

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

Other analysts also recently issued reports about the company. Barclays raised their price target on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Evercore ISI increased their price objective on shares of StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley boosted their target price on 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, UBS Group raised their price target on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, StepStone Group has a consensus rating of “Hold” and a consensus target price of $64.36.

StepStone Group Stock Up 1.2 %

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

Insider Buying and Selling at StepStone Group

In other news, CFO David Y. Park sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was 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 owns 20,251 shares of the company’s stock, valued at $1,381,320.71. This trade represents a 12.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Anthony Keathley sold 729 shares of the 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 owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. This trade represents a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by insiders.

Institutional Trading of StepStone Group

Several large investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky raised its holdings 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 buying an additional 42,373 shares during the last quarter. Geode Capital Management LLC raised 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 acquiring an additional 216,029 shares during the last quarter. Barclays PLC increased its holdings in shares of StepStone Group by 368.2% in the third quarter. Barclays PLC now owns 112,019 shares of the company’s stock valued at $6,366,000 after purchasing an additional 88,095 shares during the period. National Bank of Canada FI raised its stake in shares of StepStone Group by 8.9% in the third quarter. National Bank of Canada FI now owns 118,134 shares of the company’s stock worth $6,713,000 after purchasing an additional 9,639 shares during the last quarter. Finally, State Street Corp raised its stake 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 purchasing an additional 265,240 shares during the last quarter. Hedge funds and other 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.