Key Points
- CEO Scott Hart sold 10,000 shares on Dec. 26 at an average price of $66.17 for a total of $661,700, cutting his ownership by 50% to 10,000 shares — the trade was disclosed in an SEC filing.
- Recent results are mixed: StepStone beat Q3 EPS expectations ($0.54 vs. $0.49) and revenue rose 35.2% to $282.3M, but the firm still reports a negative net margin (-40.06%); analysts hold a consensus "Moderate Buy" with an average target of $74.57.
StepStone Group Inc. (NASDAQ:STEP - Get Free Report) CEO Scott Hart sold 10,000 shares of the company's stock in a transaction on Friday, December 26th. The shares were sold at an average price of $66.17, for a total value of $661,700.00. Following the completion of the transaction, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $661,700. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
StepStone Group Stock Performance
Shares of STEP opened at $65.37 on Tuesday. The stock has a 50-day moving average of $62.95 and a two-hundred day moving average of $61.43. The stock has a market cap of $7.73 billion, a P/E ratio of -8.17 and a beta of 1.44. StepStone Group Inc. has a one year low of $40.07 and a one year high of $68.40.
StepStone Group (NASDAQ:STEP - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. StepStone Group had a positive return on equity of 21.53% and a negative net margin of 40.06%.The firm had revenue of $282.34 million during the quarter, compared to analysts' expectations of $272.15 million. During the same period last year, the business posted $0.45 earnings per share. The company's revenue for the quarter was up 35.2% compared to the same quarter last year. Analysts predict that StepStone Group Inc. will post 1.82 EPS for the current fiscal year.
StepStone Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, November 28th. StepStone Group's payout ratio is presently -14.00%.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Wall Street Zen cut shares of StepStone Group from a "hold" rating to a "sell" rating in a report on Saturday, December 6th. Weiss Ratings reiterated a "sell (d+)" rating on shares of StepStone Group in a research note on Wednesday, October 8th. The Goldman Sachs Group raised StepStone Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $64.00 to $83.00 in a report on Wednesday, September 17th. JPMorgan Chase & Co. raised their target price on StepStone Group from $73.00 to $84.00 and gave the stock an "overweight" rating in a report on Tuesday, November 4th. Finally, Morgan Stanley boosted their price target on StepStone Group from $61.00 to $66.00 and gave the company an "equal weight" rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $74.57.
View Our Latest Stock Report on STEP
Institutional Investors Weigh In On StepStone Group
A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC boosted its stake in StepStone Group by 269.8% during the 1st quarter. Millennium Management LLC now owns 2,962,826 shares of the company's stock worth $154,748,000 after purchasing an additional 2,161,548 shares during the last quarter. Strs Ohio acquired a new stake in shares of StepStone Group in the first quarter valued at about $757,000. KLP Kapitalforvaltning AS lifted its stake in shares of StepStone Group by 12.7% in the second quarter. KLP Kapitalforvaltning AS now owns 14,200 shares of the company's stock worth $788,000 after buying an additional 1,600 shares in the last quarter. Monument Capital Management acquired a new position in StepStone Group during the second quarter worth about $272,000. Finally, Creative Planning grew its stake in StepStone Group by 10.8% during the 2nd quarter. Creative Planning now owns 36,170 shares of the company's stock valued at $2,007,000 after acquiring an additional 3,524 shares in the last quarter. 55.54% of the stock is currently owned by institutional investors and hedge funds.
About StepStone Group
(
Get Free Report)
StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone's integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.
Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.
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