Morgan Stanley Boosts StepStone Group (NASDAQ:STEP) Price Target to $65.00

StepStone Group (NASDAQ:STEP) had its price objective boosted by Morgan Stanley from $60.00 to $65.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 0.02% from the company’s current price.

Several other equities analysts have also recently issued reports on STEP. Barclays lifted their price objective on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. The Goldman Sachs Group increased their price objective on shares of StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. raised their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Evercore ISI upped their target price on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, UBS Group raised their price target on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Four 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, StepStone Group has a consensus rating of “Hold” and an average price target of $62.43.

StepStone Group Stock Performance

STEP traded up $0.89 on Thursday, hitting $65.01. 73,870 shares of the company were exchanged, compared to its average volume of 573,536. The business’s fifty day moving average is $58.98 and its 200 day moving average is $50.19. StepStone Group has a fifty-two week low of $25.06 and a fifty-two week high of $70.38. The firm has a market capitalization of $7.19 billion, a P/E ratio of 108.35 and a beta of 1.27.

Insider Buying and Selling

In related news, CFO David Y. Park sold 3,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the transaction, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Anthony Keathley sold 729 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total value of $50,191.65. Following the transaction, the chief accounting officer now owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David Y. Park sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the sale, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of STEP. GAMMA Investing LLC raised its holdings in shares of StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after buying an additional 460 shares during the period. Blue Trust Inc. raised its stake in shares of StepStone Group by 1,586.3% during the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock valued at $49,000 after purchasing an additional 809 shares during the period. US Bancorp DE boosted its stake in shares of StepStone Group by 442.7% in the third quarter. US Bancorp DE now owns 966 shares of the company’s stock valued at $55,000 after purchasing an additional 788 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in StepStone Group during the 3rd quarter valued at $63,000. Finally, CWM LLC increased its stake in StepStone Group by 190.4% during the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after buying an additional 777 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

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.