StepStone Group (NASDAQ:STEP) Given New $69.00 Price Target at Barclays

StepStone Group (NASDAQ:STEP - Get Free Report) had its target price raised by research analysts at Barclays from $66.00 to $69.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price target indicates a potential upside of 15.12% from the company's previous close.

A number of other research analysts have also issued reports on the company. Evercore ISI decreased their target price on StepStone Group from $71.00 to $63.00 and set an "outperform" rating for the company in a report on Friday, January 17th. Oppenheimer lifted their target price on StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Friday. Morgan Stanley lifted their target price on StepStone Group from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. The Goldman Sachs Group lifted their target price on StepStone Group from $64.00 to $70.50 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Finally, UBS Group lifted 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, StepStone Group presently has an average rating of "Hold" and a consensus target price of $69.21.

StepStone Group Stock Performance

Shares of STEP traded down $1.87 during midday trading on Friday, hitting $59.94. 565,258 shares of the stock were exchanged, compared to its average volume of 478,643. StepStone Group has a 52-week low of $32.58 and a 52-week high of $70.38. The stock has a fifty day simple moving average of $61.27 and a 200 day simple moving average of $58.82. The firm has a market cap of $6.90 billion, a P/E ratio of -35.47 and a beta of 1.31.

Insider Transactions at StepStone Group

In other StepStone Group news, insider Michael I. Mccabe sold 4,000 shares of StepStone Group stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $64.25, for a total value of $257,000.00. Following the transaction, the insider now directly owns 686,516 shares in the company, valued at approximately $44,108,653. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott W. Hart sold 22,091 shares of StepStone Group stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $63.24, for a total value of $1,397,034.84. Following the completion of the transaction, the chief executive officer now owns 157,909 shares in the company, valued at $9,986,165.16. This trade represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.44% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new position in shares of StepStone Group in the 4th quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of StepStone Group in the fourth quarter valued at approximately $29,000. IFP Advisors Inc purchased a new stake in shares of StepStone Group in the fourth quarter valued at approximately $36,000. GAMMA Investing LLC boosted its stake in shares of StepStone Group by 291.1% in the third quarter. GAMMA Investing LLC now owns 618 shares of the company's stock valued at $35,000 after buying an additional 460 shares in the last quarter. Finally, Amundi boosted its stake in shares of StepStone Group by 26.7% in the fourth quarter. Amundi now owns 730 shares of the company's stock valued at $42,000 after buying an additional 154 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.