Dimensional Fund Advisors LP Lowers Stock Holdings in StepStone Group LP (NASDAQ:STEP)

Dimensional Fund Advisors LP lowered its holdings in StepStone Group LP (NASDAQ:STEP - Free Report) by 21.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 545,221 shares of the company's stock after selling 147,587 shares during the quarter. Dimensional Fund Advisors LP owned 0.47% of StepStone Group worth $31,559,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of STEP. Vanguard Group Inc. raised 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 valued at $401,582,000 after buying an additional 411,133 shares during the period. Invesco Ltd. raised its stake in shares of StepStone Group by 11.5% in the 4th quarter. Invesco Ltd. now owns 3,542,270 shares of the company's stock valued at $205,027,000 after acquiring an additional 366,154 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of StepStone Group by 4.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,711,872 shares of the company's stock worth $99,083,000 after acquiring an additional 77,490 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of StepStone Group by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,508,666 shares of the company's stock worth $87,341,000 after purchasing an additional 50,976 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in StepStone Group by 26.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,409,089 shares of the company's stock valued at $85,518,000 after purchasing an additional 297,989 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company's stock.

StepStone Group Stock Down 1.2 %

NASDAQ STEP traded down $0.67 on Friday, hitting $54.67. 382,392 shares of the stock were exchanged, compared to its average volume of 670,774. StepStone Group LP has a fifty-two week low of $36.97 and a fifty-two week high of $70.38. The company has a 50-day moving average price of $50.85 and a 200-day moving average price of $58.12. The company has a market cap of $6.34 billion, a PE ratio of -32.35 and a beta of 1.37.

Insider Activity at StepStone Group

In other news, CAO Anthony Keathley sold 538 shares of the firm's 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 trade represents a 27.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the sale, the chief executive officer now owns 110,000 shares of the company's stock, 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. 18.44% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

StepStone Group 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.