StepStone Group (NASDAQ:STEP) Shares Gap Up to $27.63

StepStone Group Inc. (NASDAQ:STEPGet Rating)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $27.63, but opened at $29.40. StepStone Group shares last traded at $28.03, with a volume of 410 shares traded.

Several research analysts have recently issued reports on STEP shares. Morgan Stanley dropped their price objective on shares of StepStone Group from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, April 20th. TheStreet downgraded shares of StepStone Group from a “c-” rating to a “d+” rating in a report on Friday, April 29th. Finally, Zacks Investment Research downgraded shares of StepStone Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 13th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $46.00.

The stock’s 50-day moving average price is $28.62 and its 200-day moving average price is $35.09. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 6.06 and a beta of 1.77.

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in StepStone Group by 53.5% in the second quarter. Royal Bank of Canada now owns 2,927 shares of the company’s stock valued at $101,000 after buying an additional 1,020 shares during the period. Wells Fargo & Company MN grew its stake in shares of StepStone Group by 28.1% during the second quarter. Wells Fargo & Company MN now owns 67,877 shares of the company’s stock worth $2,335,000 after purchasing an additional 14,881 shares during the period. Morgan Stanley grew its stake in shares of StepStone Group by 107.4% during the second quarter. Morgan Stanley now owns 200,900 shares of the company’s stock worth $6,911,000 after purchasing an additional 104,052 shares during the period. Raymond James & Associates grew its stake in shares of StepStone Group by 47.0% during the third quarter. Raymond James & Associates now owns 9,009 shares of the company’s stock worth $384,000 after purchasing an additional 2,882 shares during the period. Finally, Advisor Group Holdings Inc. grew its stake in shares of StepStone Group by 66.3% during the third quarter. Advisor Group Holdings Inc. now owns 16,063 shares of the company’s stock worth $684,000 after purchasing an additional 6,406 shares during the period. Institutional investors own 95.74% of the company’s stock.

StepStone Group Company Profile (NASDAQ:STEP)

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.

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