Granahan Investment Management LLC boosted its holdings in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 48.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 348,735 shares of the company's stock after purchasing an additional 114,402 shares during the quarter. Granahan Investment Management LLC owned approximately 0.30% of StepStone Group worth $20,185,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of STEP. Steward Partners Investment Advisory LLC acquired a new position in shares of StepStone Group during the fourth quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in StepStone Group during the fourth quarter worth $29,000. IFP Advisors Inc acquired a new stake in StepStone Group during the fourth quarter worth $36,000. Amundi increased its stake in StepStone Group by 26.7% during the fourth quarter. Amundi now owns 730 shares of the company's stock worth $42,000 after acquiring an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company's stock worth $49,000 after acquiring an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company's stock.
Insider Buying and Selling
In related news, CEO Scott W. Hart sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the transaction, the chief executive officer now owns 110,000 shares in the company, valued at $6,757,300. The trade was a 8.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the transaction, the chief accounting officer now owns 1,386 shares in the company, valued at $87,318. This trade represents a 27.96% decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by corporate insiders.
StepStone Group Trading Up 1.4%
NASDAQ:STEP traded up $0.81 during trading hours on Tuesday, hitting $59.25. 337,630 shares of the stock traded hands, compared to its average volume of 672,699. The firm has a 50 day moving average price of $50.88 and a 200 day moving average price of $58.06. StepStone Group LP has a fifty-two week low of $36.97 and a fifty-two week high of $70.38. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of -35.06 and a beta of 1.37.
Analyst Ratings Changes
Several research analysts have recently commented on STEP shares. Evercore ISI raised their price target on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Barclays lowered their price target on 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. Oppenheimer set a $67.00 target price on StepStone Group and gave the company an "outperform" rating in a report on Wednesday, April 16th. Finally, Morgan Stanley decreased their target price on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $61.64.
Read Our Latest Analysis on StepStone Group
StepStone Group Company Profile
(
Free Report)
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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