Insider Selling: StepStone Group LP (NASDAQ:STEP) Insider Sells 800 Shares of Stock

StepStone Group LP (NASDAQ:STEP) insider Jason P. Ment sold 800 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $60.02, for a total value of $48,016.00. Following the completion of the transaction, the insider now directly owns 90,663 shares of the company’s stock, valued at $5,441,593.26. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

StepStone Group Price Performance

StepStone Group stock opened at $59.55 on Friday. StepStone Group LP has a 12 month low of $36.97 and a 12 month high of $70.38. The business has a 50 day simple moving average of $51.52 and a 200-day simple moving average of $58.02. The stock has a market capitalization of $6.91 billion, a PE ratio of -35.24 and a beta of 1.37.

Analyst Ratings Changes

A number of equities analysts recently issued reports on STEP shares. Evercore ISI upped their price target on StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Barclays decreased their price objective on StepStone Group from $69.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Oppenheimer set a $67.00 price objective on StepStone Group and gave the company an “outperform” rating in a report on Wednesday, April 16th. Finally, 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, StepStone Group currently has an average rating of “Hold” and an average price target of $61.64.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of STEP. Millennium Management LLC raised its position in StepStone Group by 269.8% in the first quarter. Millennium Management LLC now owns 2,962,826 shares of the company’s stock worth $154,748,000 after acquiring an additional 2,161,548 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in StepStone Group by 19.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,599,875 shares of the company’s stock worth $324,122,000 after acquiring an additional 895,521 shares in the last quarter. Raymond James Financial Inc. purchased a new position in StepStone Group in the fourth quarter worth $46,163,000. Massachusetts Financial Services Co. MA purchased a new position in StepStone Group in the fourth quarter worth $32,340,000. Finally, Ameriprise Financial Inc. raised its position in StepStone Group by 353.2% in the fourth quarter. Ameriprise Financial Inc. now owns 661,799 shares of the company’s stock worth $38,305,000 after acquiring an additional 515,760 shares in the last quarter. Hedge funds and other 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.