Balyasny Asset Management L.P. Purchases New Holdings in StepStone Group LP (NASDAQ:STEP)

Balyasny Asset Management L.P. purchased a new position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 30,724 shares of the company's stock, valued at approximately $1,778,000.

Several other large investors have also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new stake in shares of StepStone Group during the 4th quarter worth $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of StepStone Group in the fourth quarter valued at about $29,000. IFP Advisors Inc acquired a new stake in StepStone Group during the fourth quarter worth about $36,000. Amundi grew its position in StepStone Group by 26.7% during the fourth quarter. Amundi now owns 730 shares of the company's stock worth $42,000 after buying an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after purchasing an additional 226 shares in the last quarter. 55.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STEP has been the subject of several research analyst reports. Oppenheimer set a $67.00 price objective on shares of StepStone Group and gave the stock an "outperform" rating in a research report on Wednesday, April 16th. Barclays reduced their target price on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Evercore ISI increased their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Finally, Morgan Stanley dropped their target price on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $61.64.

Insider Activity

In related news, CAO Anthony Keathley sold 538 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the sale, the chief accounting officer now owns 1,386 shares of the company's stock, valued at approximately $87,318. This represents a 27.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott W. Hart sold 10,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the sale, the chief executive officer now directly owns 110,000 shares in the company, valued at approximately $6,757,300. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company's stock.

StepStone Group Stock Up 6.7%

Shares of NASDAQ STEP opened at $58.44 on Tuesday. The firm has a fifty day simple moving average of $50.88 and a 200 day simple moving average of $58.06. StepStone Group LP has a twelve month low of $36.97 and a twelve month high of $70.38. The company has a market capitalization of $6.78 billion, a PE ratio of -34.58 and a beta of 1.37.

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.

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