Point72 Asset Management L.P. Invests $501,000 in StepStone Group LP (NASDAQ:STEP)

Point72 Asset Management L.P. bought a new position in shares of StepStone Group LP (NASDAQ:STEP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,654 shares of the company’s stock, valued at approximately $501,000.

Several other large investors also recently made changes to their positions in the business. ProShare Advisors LLC grew its holdings in shares of StepStone Group by 52.0% during the fourth quarter. ProShare Advisors LLC now owns 19,732 shares of the company’s stock worth $1,142,000 after purchasing an additional 6,750 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in StepStone Group by 1.9% in the fourth quarter. Nuveen Asset Management LLC now owns 325,404 shares of the company’s stock valued at $18,834,000 after acquiring an additional 6,028 shares during the last quarter. Meketa Capital LLC bought a new position in StepStone Group in the fourth quarter valued at about $1,383,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in StepStone Group by 9.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,364 shares of the company’s stock valued at $2,163,000 after acquiring an additional 3,336 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in StepStone Group by 23.0% in the fourth quarter. Janus Henderson Group PLC now owns 29,998 shares of the company’s stock valued at $1,737,000 after acquiring an additional 5,600 shares during the last quarter. Institutional investors own 55.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on STEP shares. Oppenheimer set a $67.00 price target on StepStone Group and gave the company an “outperform” rating in a report on Wednesday, April 16th. Evercore ISI raised their price target on StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Barclays decreased their price target on StepStone Group from $69.00 to $48.00 and set an “equal weight” rating on the stock in a report on Monday, April 7th. Finally, Morgan Stanley decreased their price target on StepStone Group from $66.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.64.

StepStone Group Trading Up 0.8%

NASDAQ:STEP opened at $56.71 on Friday. StepStone Group LP has a 1-year low of $37.40 and a 1-year high of $70.38. The business’s 50-day moving average price is $51.90 and its two-hundred day moving average price is $57.98. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of -33.56 and a beta of 1.37.

StepStone Group (NASDAQ:STEP) last released its earnings results on Thursday, May 22nd. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $231.87 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 66.8% on a year-over-year basis. Sell-side analysts predict that StepStone Group LP will post 1.82 earnings per share for the current year.

Insider Transactions at StepStone Group

In other news, insider Jason P. Ment sold 800 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $60.02, for a total transaction of $48,016.00. Following the sale, the insider now owns 90,663 shares of the company’s stock, valued at $5,441,593.26. This trade represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott W. Hart sold 900 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $60.01, for a total value of $54,009.00. Following the sale, the chief executive officer now directly owns 109,100 shares in the company, valued at approximately $6,547,091. This represents a 0.82% decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by insiders.

StepStone Group Profile

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.