47,753 Shares in StepStone Group LP (NASDAQ:STEP) Acquired by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. bought a new stake in StepStone Group LP (NASDAQ:STEP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 47,753 shares of the company's stock, valued at approximately $2,764,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in StepStone Group in the fourth quarter valued at about $501,000. ProShare Advisors LLC raised its holdings in shares of StepStone Group by 52.0% in the 4th quarter. ProShare Advisors LLC now owns 19,732 shares of the company's stock worth $1,142,000 after purchasing an additional 6,750 shares during the period. Nuveen Asset Management LLC lifted its stake in StepStone Group by 1.9% in the fourth quarter. Nuveen Asset Management LLC now owns 325,404 shares of the company's stock valued at $18,834,000 after purchasing an additional 6,028 shares during the last quarter. Meketa Capital LLC purchased a new position in StepStone Group in the fourth quarter valued at approximately $1,383,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in StepStone Group by 9.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,364 shares of the company's stock valued at $2,163,000 after purchasing an additional 3,336 shares during the period. 55.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STEP has been the topic of several research reports. Evercore ISI boosted their target price on StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Oppenheimer set a $67.00 price objective on StepStone Group and gave the company an "outperform" rating in a research note on Wednesday, April 16th. Morgan Stanley dropped their price objective 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. Finally, Barclays cut 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 report on Monday, April 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, StepStone Group presently has a consensus rating of "Hold" and a consensus target price of $61.64.

StepStone Group Trading Up 0.8%

Shares of NASDAQ STEP traded up $0.47 during mid-day trading on Thursday, hitting $56.71. The company had a trading volume of 720,644 shares, compared to its average volume of 673,535. StepStone Group LP has a 1 year low of $36.97 and a 1 year high of $70.38. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of -33.56 and a beta of 1.37. The stock's 50-day moving average price is $51.86 and its 200-day moving average price is $58.00.

StepStone Group (NASDAQ:STEP - Get Free Report) last posted its earnings results on Thursday, May 22nd. The company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.22. StepStone Group had a positive return on equity of 12.04% and a negative net margin of 11.29%. As a group, equities research analysts forecast that StepStone Group LP will post 1.82 earnings per share for the current year.

Insider Activity at StepStone Group

In other StepStone Group news, CEO Scott W. Hart sold 900 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.01, for a total value of $54,009.00. Following the completion of the transaction, the chief executive officer now directly owns 109,100 shares of the company's stock, valued at $6,547,091. This trade represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason P. Ment sold 800 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.02, for a total transaction of $48,016.00. Following the transaction, the insider now owns 90,663 shares of the company's stock, valued at $5,441,593.26. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by corporate insiders.

About StepStone Group

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.