StepStone Group LP (NASDAQ:STEP) CFO David Y. Park Sells 3,000 Shares

StepStone Group LP (NASDAQ:STEP) CFO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the completion of the transaction, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This trade represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

StepStone Group Stock Performance

STEP stock opened at $65.36 on Friday. The company has a market capitalization of $7.23 billion, a P/E ratio of 108.94 and a beta of 1.27. StepStone Group LP has a 52-week low of $25.06 and a 52-week high of $70.38. The business has a 50-day simple moving average of $58.98 and a two-hundred day simple moving average of $50.19.

StepStone Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.47%. StepStone Group’s dividend payout ratio is currently 160.00%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Oppenheimer lifted their price objective on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Barclays raised their target price on StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Evercore ISI raised their target price on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. UBS Group raised their target price on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley raised their target price on StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.43.

Hedge Funds Weigh In On StepStone Group

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after buying an additional 460 shares in the last quarter. Blue Trust Inc. lifted its position in shares of StepStone Group by 1,586.3% during the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company’s stock worth $49,000 after buying an additional 809 shares in the last quarter. US Bancorp DE lifted its position in shares of StepStone Group by 442.7% during the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after buying an additional 788 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of StepStone Group in the 3rd quarter worth approximately $63,000. Finally, CWM LLC raised its holdings in shares of StepStone Group by 190.4% in the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after purchasing an additional 777 shares during the period. 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.