According to a report from Zacks.com, the StepStone Group (NASDAQ: STEP) was downgraded from a “buy” rating to a “pending” rating in a report released Friday by Zacks Investment Research.
According to Zacks, “StepStone Group Inc. is a private market investment firm focused on providing investment solutions, advisory services, and data to clients. StepStone Group Inc. is headquartered in New York. “
Other equity analysts have also published reports on the equities. In a research report on Friday, February 12, Barclays raised the target price of the StepStone Group share price from $ 32.00 to $ 39.00, giving it an “equivalent” rating. In a report released on Tuesday, January 26, UBS Group downgraded StepStone Group stock from “buy” to “neutral” and raised its price target from $ 32.00 to $ 38.00. Finally, Morgan Stanley raised its price target for StepStone Group shares from $ 47.00 to $ 48.00, giving the company an “overweight” rating in a Wednesday, February 10 report. Five analysts rated the stock’s pending valuation and one assigned the company’s buy valuation. The company currently has a consensus hold rating and a unanimous target price of $ 36.33.
StepStone Real Estate Group (NASDAQ: STEP) announced its quarterly financial results on Tuesday, February 9. The company reported quarterly earnings per share (EPS) of $ 0.28, which was $ 0.11 above analysts’ consensus forecast of $ 0.17. Revenue for the quarter was $ 96.47 million, compared to analysts’ forecast of $ 78.29 million. On average, selling analysts expect StepStone Group to report earnings per share of 0.63 this year.
On a related note, director Mark Marosewski sold shares of 299,629 StepStone Group in a trade on Tuesday, March 23. The shares were sold for an average price of $ 28.32 and a total price of $ 8,485,493.28. After the sale, the Manager now owns 3,799,629 shares of the company (equivalent to approximately $ 107,605,493.28). This transaction is disclosed in a file with the Securities and Exchange Commission and can be obtained from this hyperlink. Insider Darren M. Friedman also sold 200,000 shares of the Stepstone Group in a trade on Tuesday, March 23. The shares were sold for an average of $ 28.32 and traded for a total of $ 5,664,000.00. Following the sale, Insider now directly owns 1,263,022 shares of the company, valued at approximately $ 35,768,783.04. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 3,689,443 shares of a company valued at $ 104,485,026.
Recently, many institutional investors have added or reduced stocks. SG Americas Securities LLC acquired a new stake in StepStone Group for $ 103,000 in the fourth quarter. Citigroup Ltd acquired a new stake in StepStone Group for $ 176,000 in the fourth quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in StepStone Group for $ 179,000 in the fourth quarter. Strs Ohio acquired a new stake in StepStone Group for $ 187,000 in the fourth quarter. Finally, in the fourth quarter of Alliancebernstein L.P., we acquired a new stake in StepStone Group for $ 203,000. Currently, 30.26% of the shares are held by hedge funds and other institutional investors.