Jason P. Ment Sells 800 Shares of StepStone Group LP (NASDAQ:STEP) Stock

StepStone Group LP (NASDAQ:STEP) insider Jason P. Ment sold 800 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $60.02, for a total transaction of $48,016.00. Following the completion of the sale, the insider now owns 90,663 shares in the company, valued at approximately $5,441,593.26. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

StepStone Group Stock Performance

Shares of StepStone Group stock opened at $59.55 on Friday. StepStone Group LP has a one year low of $36.97 and a one year high of $70.38. The company has a market cap of $6.91 billion, a PE ratio of -35.24 and a beta of 1.37. The business has a 50-day simple moving average of $51.52 and a 200-day simple moving average of $58.02.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STEP. Oppenheimer set a $67.00 price objective on shares of StepStone Group and gave the company an “outperform” rating in a report on Wednesday, April 16th. Evercore ISI boosted their price target on shares of StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Morgan Stanley cut their price target on shares of StepStone Group from $66.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Finally, Barclays cut their price target on shares of StepStone Group from $69.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, StepStone Group currently has a consensus rating of “Hold” and an average target price of $61.64.

Hedge Funds Weigh In On StepStone Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC grew its position in shares of StepStone Group by 6.8% during the first quarter. Empowered Funds LLC now owns 112,647 shares of the company’s stock worth $5,884,000 after buying an additional 7,167 shares in the last quarter. United Services Automobile Association acquired a new position in shares of StepStone Group during the first quarter worth about $209,000. Goldman Sachs Group Inc. grew its position in shares of StepStone Group by 21.6% during the first quarter. Goldman Sachs Group Inc. now owns 357,281 shares of the company’s stock worth $18,661,000 after buying an additional 63,519 shares in the last quarter. Millennium Management LLC grew its position in shares of StepStone Group by 269.8% during the first quarter. Millennium Management LLC now owns 2,962,826 shares of the company’s stock worth $154,748,000 after buying an additional 2,161,548 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in StepStone Group by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,602 shares of the company’s stock valued at $2,068,000 after purchasing an additional 2,238 shares in the last quarter. 55.54% of the stock is owned by institutional investors and hedge funds.

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.