Barclays Issues Pessimistic Forecast for StepStone Group (NASDAQ:STEP) Stock Price

StepStone Group (NASDAQ:STEP) had its price objective decreased by analysts at Barclays from $62.00 to $60.00 in a report released on Thursday, MarketBeat.com reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 39.66% from the stock’s previous close.

Several other analysts have also commented on the stock. Weiss Ratings lowered shares of StepStone Group from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. BMO Capital Markets boosted their price objective on StepStone Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Evercore reissued an “outperform” rating and issued a $60.00 price target on shares of StepStone Group in a research note on Thursday, May 21st. UBS Group assumed coverage on shares of StepStone Group in a research report on Thursday, April 2nd. They set a “buy” rating and a $60.00 price target for the company. Finally, Oppenheimer cut their price objective on StepStone Group from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 21st. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.62.

StepStone Group Trading Down 1.6%

Shares of StepStone Group stock opened at $42.96 on Thursday. StepStone Group has a 12-month low of $38.85 and a 12-month high of $77.79. The firm’s 50 day simple moving average is $47.57 and its two-hundred day simple moving average is $53.79. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of -6.32 and a beta of 1.31.

StepStone Group (NASDAQ:STEP) last posted its quarterly earnings results on Wednesday, May 20th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. StepStone Group had a positive return on equity of 37.69% and a negative net margin of 26.88%.The business had revenue of $305.84 million for the quarter, compared to the consensus estimate of $292.11 million. During the same quarter in the previous year, the business earned $0.68 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts predict that StepStone Group will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael I. Mccabe purchased 120,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $41.85 per share, for a total transaction of $5,022,000.00. Following the acquisition, the insider directly owned 433,178 shares in the company, valued at $18,128,499.30. This trade represents a 38.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jose A. Fernandez sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $48.60, for a total transaction of $4,860,000.00. Following the completion of the sale, the chief operating officer directly owned 102,290 shares in the company, valued at approximately $4,971,294. This trade represents a 49.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.47% of the company’s stock.

Hedge Funds Weigh In On StepStone Group

Large investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC grew its position in StepStone Group by 105.0% in the 4th quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock valued at $28,000 after buying an additional 212 shares during the last quarter. Quarry LP raised its holdings in StepStone Group by 155.7% during the third quarter. Quarry LP now owns 514 shares of the company’s stock worth $34,000 after purchasing an additional 313 shares in the last quarter. Fifth Third Bancorp increased its position in StepStone Group by 58.6% during the 4th quarter. Fifth Third Bancorp now owns 544 shares of the company’s stock worth $35,000 after purchasing an additional 201 shares during the period. Essential Partners LLC boosted its stake in shares of StepStone Group by 17,350.0% in the first quarter. Essential Partners LLC now owns 698 shares of the company’s stock valued at $33,000 after buying an additional 694 shares in the last quarter. Finally, Spire Wealth Management grew its holdings in StepStone Group by 60.0% during the fourth quarter. Spire Wealth Management now owns 800 shares of the company’s stock worth $51,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

About StepStone Group

StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone’s integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.

Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.