Hsbc Holdings PLC Raises Holdings in StepStone Group LP (NASDAQ:STEP)

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

Other hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new position in StepStone Group in the fourth quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new position in shares of StepStone Group in the 4th quarter valued at about $29,000. IFP Advisors Inc acquired a new position in StepStone Group in the 4th quarter worth about $36,000. Amundi boosted its position in StepStone Group by 26.7% during the fourth quarter. Amundi now owns 730 shares of the company's stock worth $42,000 after purchasing an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in StepStone Group by 36.6% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after purchasing an additional 226 shares during the period. 55.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Anthony Keathley sold 538 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total value of $33,894.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott W. Hart sold 10,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer now directly owns 110,000 shares in the company, valued at $6,757,300. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STEP. Morgan Stanley decreased their target price on 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 increased 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. 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. Finally, Barclays reduced their price target 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $61.64.

StepStone Group Price Performance

STEP traded down $0.67 on Friday, reaching $54.67. 382,392 shares of the company's stock were exchanged, compared to its average volume of 672,799. StepStone Group LP has a twelve month low of $36.97 and a twelve month high of $70.38. The stock has a market cap of $6.34 billion, a PE ratio of -32.35 and a beta of 1.37. The stock's fifty day moving average price is $50.85 and its 200-day moving average price is $58.10.

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.