StepStone Group (NASDAQ:STEP) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

StepStone Group (NASDAQ:STEP) announced its quarterly earnings data on Thursday. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.03), Zacks reports.

StepStone Group Stock Down 1.3 %

NASDAQ:STEP traded down $0.86 during trading hours on Thursday, hitting $63.96. 610,637 shares of the company traded hands, compared to its average volume of 457,958. The firm’s 50-day simple moving average is $61.40 and its 200-day simple moving average is $58.44. StepStone Group has a one year low of $32.58 and a one year high of $70.38. The company has a market cap of $7.37 billion, a PE ratio of 106.60 and a beta of 1.31.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group lifted their price target on shares of StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Barclays reduced their price target on shares of StepStone Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Evercore ISI reduced their price target on shares of StepStone Group from $71.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Finally, Oppenheimer lifted their price target on shares of StepStone Group from $73.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.79.

Insider Buying and Selling at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total transaction of $50,191.65. Following the transaction, the chief accounting officer now directly owns 2,158 shares in the company, valued at approximately $148,578.30. This trade represents a 25.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott W. Hart sold 22,091 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $63.24, for a total value of $1,397,034.84. Following the transaction, the chief executive officer now owns 157,909 shares in the company, valued at approximately $9,986,165.16. This trade represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,820 shares of company stock worth $1,908,856. Corporate insiders own 18.44% 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.