StepStone Group Inc. (NASDAQ:STEP) Given Consensus Recommendation of “Hold” by Brokerages


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StepStone Group Inc. (NASDAQ:STEP) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $36.00.

A number of research analysts recently issued reports on the company. UBS Group downgraded StepStone Group from a “buy” rating to a “neutral” rating and raised their price target for the stock from $32.00 to $38.00 in a research note on Tuesday, January 26th. Zacks Investment Research downgraded StepStone Group from a “buy” rating to a “hold” rating in a research note on Friday, April 2nd. Barclays raised their price target on StepStone Group from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, February 12th. Finally, Morgan Stanley raised their price target on StepStone Group from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 10th.

In other StepStone Group news, COO Jose A. Fernandez sold 1,750,000 shares of the business’s stock in a transaction on Tuesday, March 23rd. The stock was sold at an average price of $28.32, for a total value of $49,560,000.00. Following the transaction, the chief operating officer now owns 8,920 shares of the company’s stock, valued at $252,614.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Darren M. Friedman sold 200,000 shares of StepStone Group stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $28.32, for a total value of $5,664,000.00. Following the completion of the transaction, the insider now directly owns 1,263,022 shares of the company’s stock, valued at $35,768,783.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,689,443 shares of company stock valued at $104,485,026.

Several institutional investors and hedge funds have recently added to or reduced their stakes in STEP. Susquehanna International Group LLP acquired a new position in StepStone Group in the fourth quarter valued at about $1,344,000. Norges Bank acquired a new position in shares of StepStone Group in the 4th quarter valued at approximately $796,000. JPMorgan Chase & Co. grew its position in shares of StepStone Group by 74.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,901,084 shares of the company’s stock valued at $75,663,000 after purchasing an additional 811,535 shares during the period. Truist Financial Corp increased its stake in StepStone Group by 174.6% during the 4th quarter. Truist Financial Corp now owns 29,022 shares of the company’s stock worth $1,155,000 after purchasing an additional 18,452 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in StepStone Group during the 4th quarter worth approximately $3,136,000. Institutional investors and hedge funds own 30.26% of the company’s stock.

STEP stock traded down $0.84 during mid-day trading on Friday, reaching $36.02. The company’s stock had a trading volume of 6,434 shares, compared to its average volume of 361,444. StepStone Group has a fifty-two week low of $22.72 and a fifty-two week high of $41.00. The company’s 50 day moving average price is $33.82.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings data on Tuesday, February 9th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The business had revenue of $96.47 million during the quarter, compared to analysts’ expectations of $78.29 million. As a group, analysts anticipate that StepStone Group will post 0.63 earnings per share for the current year.

The business also recently declared a dividend, which was paid on Friday, March 12th. Shareholders of record on Friday, February 26th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, March 18th.

About StepStone Group

StepStone Group Inc is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, and buyout investments in mature and middle market companies.

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Analyst Recommendations for StepStone Group (NASDAQ:STEP)

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