StepStone Group (NASDAQ:STEP) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

StepStone Group (NASDAQ:STEP) issued its quarterly earnings data on Thursday. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.03), Zacks reports.

StepStone Group Price Performance

STEP stock traded down $0.86 during midday trading on Thursday, hitting $63.96. The stock had a trading volume of 610,637 shares, compared to its average volume of 457,958. StepStone Group has a 12-month low of $32.58 and a 12-month high of $70.38. The firm has a market cap of $7.37 billion, a PE ratio of 106.60 and a beta of 1.31. The company’s 50-day moving average price is $61.40 and its 200 day moving average price is $58.44.

Insiders Place Their Bets

In other news, CEO Scott W. Hart sold 22,091 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $63.24, for a total transaction of $1,397,034.84. Following the completion of the transaction, the chief executive officer now owns 157,909 shares of the company’s stock, valued at $9,986,165.16. This represents a 12.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the transaction, the chief financial officer now owns 20,251 shares in the company, valued at approximately $1,381,320.71. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,820 shares of company stock valued at $1,908,856 in the last quarter. 18.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price target 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. Evercore ISI cut their target price on shares of StepStone Group from $71.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Barclays lowered their price target on shares of StepStone Group from $72.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Oppenheimer lifted their price objective on StepStone Group from $73.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, UBS Group increased their target price on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, StepStone Group currently has an average rating of “Hold” and a consensus price target of $67.79.

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.