Insider Selling: StepStone Group (NASDAQ:STEP) CEO Sells 10,000 Shares of Stock

StepStone Group Inc. (NASDAQ:STEP) CEO Scott Hart sold 10,000 shares of StepStone Group stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $66.17, for a total transaction of $661,700.00. Following the transaction, the chief executive officer owned 10,000 shares of the company’s stock, valued at $661,700. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

StepStone Group Trading Down 1.3%

StepStone Group stock traded down $0.87 during mid-day trading on Monday, hitting $65.37. The company had a trading volume of 498,587 shares, compared to its average volume of 696,384. StepStone Group Inc. has a 12 month low of $40.07 and a 12 month high of $68.40. The company has a market capitalization of $7.73 billion, a PE ratio of -8.17 and a beta of 1.44. The stock’s 50 day moving average price is $62.95 and its two-hundred day moving average price is $61.43.

StepStone Group (NASDAQ:STEP) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05. The company had revenue of $282.34 million for the quarter, compared to the consensus estimate of $272.15 million. StepStone Group had a negative net margin of 40.06% and a positive return on equity of 21.53%. StepStone Group’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS. Equities research analysts anticipate that StepStone Group Inc. will post 1.82 EPS for the current year.

StepStone Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, November 28th. StepStone Group’s payout ratio is presently -14.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of STEP. Aster Capital Management DIFC Ltd raised its holdings in StepStone Group by 2,285.7% during the third quarter. Aster Capital Management DIFC Ltd now owns 501 shares of the company’s stock valued at $33,000 after acquiring an additional 480 shares during the period. Quarry LP lifted its holdings in StepStone Group by 155.7% in the 3rd quarter. Quarry LP now owns 514 shares of the company’s stock worth $34,000 after purchasing an additional 313 shares in the last quarter. Clearstead Advisors LLC boosted its stake in StepStone Group by 127.8% in the 3rd quarter. Clearstead Advisors LLC now owns 581 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the period. Darwin Wealth Management LLC purchased a new stake in StepStone Group during the 2nd quarter valued at approximately $46,000. Finally, Nisa Investment Advisors LLC raised its position in shares of StepStone Group by 35.5% during the third quarter. Nisa Investment Advisors LLC now owns 916 shares of the company’s stock valued at $60,000 after buying an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STEP. Wall Street Zen cut shares of StepStone Group from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. The Goldman Sachs Group upgraded StepStone Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $64.00 to $83.00 in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of StepStone Group in a research report on Wednesday, October 8th. BMO Capital Markets began coverage on shares of StepStone Group in a research report on Friday, October 3rd. They set an “outperform” rating and a $74.00 price target for the company. Finally, Oppenheimer dropped their price objective on shares of StepStone Group from $84.00 to $83.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.57.

About StepStone Group

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.