StepStone Group (NASDAQ:STEP) Given New $81.00 Price Target at Oppenheimer

StepStone Group (NASDAQ:STEP - Get Free Report) had its price objective increased by equities research analysts at Oppenheimer from $74.00 to $81.00 in a report released on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's target price suggests a potential upside of 35.07% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Barclays set a $62.00 price objective on shares of StepStone Group and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. Evercore ISI lifted their price target on StepStone Group from $56.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday. Morgan Stanley decreased their price objective 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. Finally, The Goldman Sachs Group raised their target price on StepStone Group from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $63.43.

StepStone Group Stock Up 0.3%

Shares of NASDAQ:STEP traded up $0.20 during trading on Monday, hitting $59.97. 338,866 shares of the company traded hands, compared to its average volume of 623,818. The business's fifty day moving average is $56.90 and its 200-day moving average is $56.22. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of -25.09 and a beta of 1.36. StepStone Group has a one year low of $40.07 and a one year high of $70.38.

StepStone Group (NASDAQ:STEP - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.24. The firm had revenue of $295.86 million during the quarter, compared to the consensus estimate of $231.87 million. StepStone Group had a positive return on equity of 15.21% and a negative net margin of 15.28%. The firm's revenue was up 66.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. On average, analysts forecast that StepStone Group will post 1.82 EPS for the current year.

Insiders Place Their Bets

In other news, insider Michael I. Mccabe sold 67,718 shares of StepStone Group stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $56.54, for a total transaction of $3,828,775.72. Following the transaction, the insider directly owned 423,864 shares in the company, valued at approximately $23,965,270.56. This trade represents a 13.78% decrease in their position. The sale 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 company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $60.29, for a total value of $602,900.00. Following the completion of the sale, the chief executive officer owned 70,000 shares of the company's stock, valued at approximately $4,220,300. This trade represents a 12.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 416,144 shares of company stock worth $24,757,301 over the last ninety days. Company insiders own 18.44% of the company's stock.

Hedge Funds Weigh In On StepStone Group

Large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new stake in StepStone Group during the fourth quarter valued at approximately $27,000. Versant Capital Management Inc acquired a new position in StepStone Group in the first quarter worth approximately $35,000. Amundi increased its holdings in shares of StepStone Group by 26.7% in the fourth quarter. Amundi now owns 730 shares of the company's stock valued at $42,000 after buying an additional 154 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of StepStone Group by 444.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 969 shares of the company's stock valued at $56,000 after acquiring an additional 791 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of StepStone Group by 38.5% during the 1st quarter. GAMMA Investing LLC now owns 1,169 shares of the company's stock worth $61,000 after acquiring an additional 325 shares in the last quarter. Institutional investors own 55.54% of the company's stock.

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.