StepStone Group Inc. $STEP Shares Purchased by Bryce Point Capital LLC

Bryce Point Capital LLC increased its stake in shares of StepStone Group Inc. (NASDAQ:STEP) by 17.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,619 shares of the company’s stock after purchasing an additional 2,770 shares during the period. StepStone Group accounts for about 0.9% of Bryce Point Capital LLC’s holdings, making the stock its 4th biggest position. Bryce Point Capital LLC’s holdings in StepStone Group were worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in StepStone Group by 38.5% in the 1st quarter. GAMMA Investing LLC now owns 1,169 shares of the company’s stock valued at $61,000 after acquiring an additional 325 shares during the last quarter. Millennium Management LLC raised its holdings in StepStone Group by 269.8% in the 1st quarter. Millennium Management LLC now owns 2,962,826 shares of the company’s stock valued at $154,748,000 after acquiring an additional 2,161,548 shares during the last quarter. Strs Ohio acquired a new position in StepStone Group in the 1st quarter valued at $757,000. Teacher Retirement System of Texas acquired a new position in StepStone Group in the 1st quarter valued at $499,000. Finally, KLP Kapitalforvaltning AS raised its holdings in StepStone Group by 12.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 14,200 shares of the company’s stock valued at $788,000 after acquiring an additional 1,600 shares during the last quarter. 55.54% of the stock is currently owned by institutional investors and hedge funds.

StepStone Group Stock Down 0.6%

STEP stock opened at $60.51 on Tuesday. The company has a market cap of $7.04 billion, a price-to-earnings ratio of -19.65 and a beta of 1.36. The business has a fifty day simple moving average of $63.33 and a 200-day simple moving average of $59.25. StepStone Group Inc. has a 52 week low of $40.07 and a 52 week high of $70.38.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The firm had revenue of $237.47 million for the quarter, compared to analyst estimates of $238.99 million. StepStone Group had a positive return on equity of 16.07% and a negative net margin of 17.10%.The company’s quarterly revenue was up 95.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 earnings per share. As a group, analysts expect that StepStone Group Inc. will post 1.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Zacks Research downgraded StepStone Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Evercore ISI boosted their price target on StepStone Group from $56.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. Barclays set a $70.00 price target on StepStone Group in a report on Wednesday, October 8th. 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. Finally, Oppenheimer dropped their price objective on StepStone Group from $84.00 to $83.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, StepStone Group has a consensus rating of “Moderate Buy” and a consensus price target of $72.83.

Insiders Place Their Bets

In related news, CFO David Y. Park sold 1,000 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $63.26, for a total transaction of $63,260.00. Following the completion of the sale, the chief financial officer directly owned 22,020 shares of the company’s stock, valued at approximately $1,392,985.20. This represents a 4.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $64.34, for a total transaction of $643,400.00. Following the sale, the chief executive officer directly owned 30,000 shares of the company’s stock, valued at approximately $1,930,200. This trade represents a 25.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 31,000 shares of company stock valued at $1,968,060. 16.47% of the stock is owned by corporate insiders.

StepStone Group Company Profile

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.