StepStone Group (NASDAQ:STEP) Issues Quarterly Earnings Results

StepStone Group (NASDAQ:STEP – Get Rating) announced its quarterly earnings results on Wednesday. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.04), Briefing.com reports. The business had revenue of $152.94 million for the quarter, compared to the consensus estimate of $145.36 million. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS.

StepStone Group Price Performance

NASDAQ:STEP opened at $21.89 on Thursday. The firm’s fifty day moving average price is $22.81 and its 200 day moving average price is $26.39. StepStone Group has a 1-year low of $20.75 and a 1-year high of $32.12. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -273.63 and a beta of 1.36.

Insider Activity at StepStone Group

In related news, CAO David Y. Park sold 2,400 shares of StepStone Group stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $28.52, for a total value of $68,448.00. Following the transaction, the chief accounting officer now directly owns 31,864 shares in the company, valued at approximately $908,761.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 20.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On StepStone Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in StepStone Group by 5.3% in the first quarter. JPMorgan Chase & Co. now owns 4,297,392 shares of the company’s stock valued at $104,298,000 after acquiring an additional 215,867 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in StepStone Group by 1.3% in the first quarter. Segall Bryant & Hamill LLC now owns 282,409 shares of the company’s stock valued at $6,854,000 after acquiring an additional 3,538 shares during the period. State Street Corp lifted its holdings in StepStone Group by 9.7% in the first quarter. State Street Corp now owns 1,127,070 shares of the company’s stock valued at $27,354,000 after acquiring an additional 99,803 shares during the period. Geode Capital Management LLC lifted its holdings in StepStone Group by 4.7% in the first quarter. Geode Capital Management LLC now owns 1,028,480 shares of the company’s stock valued at $24,961,000 after acquiring an additional 45,843 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in StepStone Group by 27.1% in the first quarter. Schonfeld Strategic Advisors LLC now owns 824,800 shares of the company’s stock valued at $20,018,000 after acquiring an additional 176,000 shares during the period. Institutional investors and hedge funds own 93.82% of the company’s stock.

Analysts Set New Price Targets

STEP has been the topic of several recent analyst reports. TheStreet lowered shares of StepStone Group from a “c-” rating to a “d+” rating in a research note on Thursday, May 4th. The Goldman Sachs Group raised their target price on shares of StepStone Group from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 10th. Morgan Stanley lowered their target price on shares of StepStone Group from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 19th. Barclays lowered their target price on shares of StepStone Group from $26.00 to $25.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of StepStone Group from $37.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, February 13th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.80.

About StepStone Group

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StepStone Group Inc is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, and buyout investments in mature and middle market companies.