Cubist Systematic Strategies LLC Takes $1.86 Million Position in StepStone Group LP (NASDAQ:STEP)

Cubist Systematic Strategies LLC purchased a new stake in shares of StepStone Group LP (NASDAQ:STEP) during the 4th quarter, Holdings Channel.com reports. The fund purchased 32,181 shares of the company’s stock, valued at approximately $1,863,000.

Other hedge funds also recently added to or reduced their stakes in the company. 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 purchasing an additional 88,095 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in StepStone Group in the 4th quarter valued at $388,000. Cibc World Markets Corp bought a new position in StepStone Group in the 4th quarter valued at $355,000. Proficio Capital Partners LLC bought a new position in StepStone Group in the 4th quarter valued at $941,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in StepStone Group in the 4th quarter valued at $331,000. 55.54% of the stock is currently owned by institutional investors.

StepStone Group Stock Performance

NASDAQ:STEP opened at $54.67 on Monday. StepStone Group LP has a fifty-two week low of $36.97 and a fifty-two week high of $70.38. The company’s 50-day simple moving average is $50.85 and its 200-day simple moving average is $58.08. The stock has a market capitalization of $6.34 billion, a P/E ratio of -32.35 and a beta of 1.37.

Insider Buying and Selling

In other StepStone Group news, CAO Anthony Keathley sold 538 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the transaction, the chief accounting officer now owns 1,386 shares in the company, valued at approximately $87,318. This represents a 27.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the transaction, the chief executive officer now owns 110,000 shares in the company, valued at $6,757,300. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of StepStone Group from $66.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Oppenheimer set a $67.00 price objective on StepStone Group and gave the company an “outperform” rating in a report on Wednesday, April 16th. Evercore ISI lifted their price objective on StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Finally, Barclays decreased their price objective on StepStone Group from $69.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.64.

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.