The Goldman Sachs Group Raises StepStone Group (NASDAQ:STEP) Price Target to $70.50

StepStone Group (NASDAQ:STEP - Get Free Report) had its target price hoisted by analysts at The Goldman Sachs Group from $64.00 to $70.50 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's target price points to a potential upside of 7.96% from the stock's previous close.

Other equities analysts have also recently issued reports about the stock. Oppenheimer boosted their target price on shares of StepStone Group from $56.00 to $73.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Evercore ISI boosted their target price on shares of StepStone Group from $52.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of StepStone Group from $56.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, October 1st. Morgan Stanley upped their price objective on shares of StepStone Group from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Finally, UBS Group boosted their target price on shares of StepStone Group from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, StepStone Group presently has an average rating of "Hold" and an average target price of $64.36.

StepStone Group Trading Up 0.8 %

Shares of STEP traded up $0.54 during midday trading on Tuesday, reaching $65.30. The stock had a trading volume of 437,468 shares, compared to its average volume of 574,904. The firm has a 50 day simple moving average of $59.99 and a 200-day simple moving average of $51.10. The firm has a market cap of $7.52 billion, a PE ratio of 108.83 and a beta of 1.27. StepStone Group has a one year low of $25.06 and a one year high of $70.38.

Insider Transactions at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the sale, the chief accounting officer now directly owns 2,158 shares of the company's stock, valued at approximately $148,578.30. The trade was a 25.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David Y. Park sold 3,000 shares of the business's 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 completion of the transaction, the chief financial officer now owns 20,251 shares of the company's stock, valued at $1,381,320.71. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.44% of the company's stock.

Institutional Trading of StepStone Group

A number of hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in shares of StepStone Group by 3.7% in the third quarter. FMR LLC now owns 3,999,819 shares of the company's stock worth $227,310,000 after acquiring an additional 141,637 shares during the period. State Street Corp raised its position in StepStone Group by 12.4% during the third quarter. State Street Corp now owns 2,401,034 shares of the company's stock valued at $136,451,000 after purchasing an additional 265,240 shares during the period. Geode Capital Management LLC raised its holdings in shares of StepStone Group by 17.4% in the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company's stock worth $82,856,000 after buying an additional 216,029 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of StepStone Group by 25.3% in the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company's stock worth $51,185,000 after buying an additional 225,201 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of StepStone Group by 150.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company's stock worth $30,396,000 after buying an additional 510,283 shares during the period. Hedge funds and other institutional investors own 55.54% of the company's stock.

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.