Barclays Cuts StepStone Group (NASDAQ:STEP) Price Target to $48.00

StepStone Group (NASDAQ:STEP) had its target price lowered by analysts at Barclays from $69.00 to $48.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 12.47% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. 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. Oppenheimer lifted their price target on shares of StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.21.

StepStone Group Stock Down 2.8 %

Shares of NASDAQ STEP traded down $1.22 during mid-day trading on Monday, reaching $42.68. 1,072,334 shares of the company were exchanged, compared to its average volume of 641,586. The firm has a 50-day moving average of $57.63 and a 200 day moving average of $60.00. StepStone Group has a 1 year low of $34.64 and a 1 year high of $70.38. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of -25.42 and a beta of 1.36.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Amundi raised its position in shares of StepStone Group by 26.7% in the fourth quarter. Amundi now owns 730 shares of the company’s stock worth $42,000 after acquiring an additional 154 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of StepStone Group by 1.7% in the 4th quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company’s stock valued at $554,000 after purchasing an additional 157 shares in the last quarter. Blue Trust Inc. raised its holdings in StepStone Group by 25.5% in the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the company’s stock worth $61,000 after purchasing an additional 219 shares during the period. GAMMA Investing LLC boosted its position in StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock worth $49,000 after purchasing an additional 226 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in StepStone Group by 1.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company’s stock worth $1,771,000 after purchasing an additional 300 shares in the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

StepStone Group Company 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.