Deutsche Bank AG Acquires 20,108 Shares of StepStone Group LP (NASDAQ:STEP)

Deutsche Bank AG lifted its holdings in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 56.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,937 shares of the company's stock after purchasing an additional 20,108 shares during the period. Deutsche Bank AG's holdings in StepStone Group were worth $3,238,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in StepStone Group by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock worth $401,582,000 after purchasing an additional 411,133 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of StepStone Group by 19.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,599,875 shares of the company's stock worth $324,122,000 after buying an additional 895,521 shares during the period. Invesco Ltd. raised its stake in StepStone Group by 11.5% during the fourth quarter. Invesco Ltd. now owns 3,542,270 shares of the company's stock worth $205,027,000 after buying an additional 366,154 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in StepStone Group by 0.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,902,366 shares of the company's stock valued at $110,109,000 after buying an additional 14,888 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in StepStone Group by 4.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,711,872 shares of the company's stock valued at $99,083,000 after acquiring an additional 77,490 shares during the last quarter. Institutional investors own 55.54% of the company's stock.

StepStone Group Stock Down 1.7%

StepStone Group stock opened at $58.43 on Wednesday. The firm has a fifty day simple moving average of $51.81 and a two-hundred day simple moving average of $58.01. 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 -34.57 and a beta of 1.37.

Insiders Place Their Bets

In other news, insider Jason P. Ment sold 800 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $60.02, for a total value of $48,016.00. Following the completion of the transaction, the insider now owns 90,663 shares in the company, valued at $5,441,593.26. This trade represents a 0.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott W. Hart sold 900 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $60.01, for a total value of $54,009.00. Following the completion of the sale, the chief executive officer now directly owns 109,100 shares in the company, valued at approximately $6,547,091. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,700 shares of company stock valued at $716,325 in the last quarter. Insiders own 18.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. 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 research report on Monday, April 14th. Evercore ISI upped their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Barclays cut their price objective 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. Finally, Oppenheimer set a $67.00 target price on StepStone Group and gave the company an "outperform" rating in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $61.64.

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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