Hsbc Holdings PLC Purchases 8,496 Shares of StepStone Group LP (NASDAQ:STEP)

Hsbc Holdings PLC grew its holdings in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 114.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,920 shares of the company's stock after buying an additional 8,496 shares during the quarter. Hsbc Holdings PLC's holdings in StepStone Group were worth $928,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in StepStone Group by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock worth $401,582,000 after buying an additional 411,133 shares during the last quarter. Invesco Ltd. raised its stake in 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. raised its position in shares of StepStone Group by 4.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,711,872 shares of the company's stock valued at $99,083,000 after purchasing an additional 77,490 shares during the period. Geode Capital Management LLC lifted its stake 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 buying an additional 50,976 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of StepStone Group by 26.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,409,089 shares of the company's stock worth $85,518,000 after buying an additional 297,989 shares during the period. 55.54% of the stock is currently owned by institutional investors and hedge funds.

StepStone Group Trading Up 1.1 %

StepStone Group stock traded up $0.58 during midday trading on Wednesday, reaching $53.57. The company's stock had a trading volume of 280,011 shares, compared to its average volume of 669,390. The stock has a market cap of $6.21 billion, a PE ratio of -31.70 and a beta of 1.37. StepStone Group LP has a 52 week low of $36.97 and a 52 week high of $70.38. The business has a 50-day moving average price of $50.94 and a 200-day moving average price of $58.19.

Insider Activity at StepStone Group

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

Analyst Ratings Changes

Several equities research analysts have issued reports on STEP shares. Morgan Stanley cut their price objective on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Oppenheimer set a $67.00 target price on shares of StepStone Group and gave the company an "outperform" rating in a research report on Wednesday, April 16th. Barclays cut their price objective 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. Finally, Evercore ISI boosted their price target on StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target 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.