Cubist Systematic Strategies LLC acquired a new stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 32,181 shares of the company's stock, valued at approximately $1,863,000.
A number of other hedge funds have also recently modified their holdings of STEP. Price T Rowe Associates Inc. MD grew its position in shares of StepStone Group by 19.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,599,875 shares of the company's stock valued at $324,122,000 after acquiring an additional 895,521 shares during the period. Raymond James Financial Inc. bought a new stake in shares of StepStone Group during the 4th quarter valued at $46,163,000. Massachusetts Financial Services Co. MA purchased a new stake in StepStone Group in the 4th quarter worth approximately $32,340,000. Ameriprise Financial Inc. increased its holdings in StepStone Group by 353.2% in the 4th quarter. Ameriprise Financial Inc. now owns 661,799 shares of the company's stock worth $38,305,000 after acquiring an additional 515,760 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in StepStone Group by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock worth $401,582,000 after acquiring an additional 411,133 shares in the last quarter. Institutional investors own 55.54% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Morgan Stanley reduced their target price on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. 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 report on Monday, April 7th. Oppenheimer set a $67.00 price target on StepStone Group and gave the company an "outperform" rating in a report on Wednesday, April 16th. Finally, Evercore ISI raised their price target on StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $61.64.
Check Out Our Latest Stock Analysis on STEP
StepStone Group Stock Performance
STEP stock opened at $54.67 on Monday. StepStone Group LP has a one year low of $36.97 and a one year high of $70.38. The company's fifty day moving average price is $50.85 and its 200-day moving average price is $58.08. The company has a market capitalization of $6.34 billion, a PE ratio of -32.35 and a beta of 1.37.
Insider Transactions at StepStone Group
In other StepStone Group news, CAO Anthony Keathley sold 538 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the completion of the transaction, the chief accounting officer now owns 1,386 shares in the company, valued at $87,318. This trade represents a 27.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott W. Hart sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the transaction, the chief executive officer now owns 110,000 shares of the company's stock, valued at $6,757,300. This represents a 8.33% decrease in their position. The disclosure for this sale can be found here. Insiders own 18.44% of the company's stock.
StepStone Group Company Profile
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Free Report)
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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