Dimensional Fund Advisors LP Sells 147,587 Shares of StepStone Group LP (NASDAQ:STEP)

Dimensional Fund Advisors LP decreased its position in StepStone Group LP (NASDAQ:STEP) by 21.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 545,221 shares of the company’s stock after selling 147,587 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.47% of StepStone Group worth $31,559,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in StepStone Group in the fourth quarter worth about $46,163,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of StepStone Group during the 4th quarter valued at about $32,340,000. Vanguard Group Inc. boosted its holdings in StepStone Group by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company’s stock worth $401,582,000 after purchasing an additional 411,133 shares during the last quarter. Invesco Ltd. grew its holdings in shares of StepStone Group by 11.5% in the fourth quarter. Invesco Ltd. now owns 3,542,270 shares of the company’s stock worth $205,027,000 after acquiring an additional 366,154 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in shares of StepStone Group by 26.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,409,089 shares of the company’s stock valued at $85,518,000 after purchasing an additional 297,989 shares during the period. Institutional investors own 55.54% of the company’s stock.

StepStone Group Trading Down 1.8 %

Shares of STEP opened at $53.60 on Tuesday. The firm has a market capitalization of $6.22 billion, a P/E ratio of -31.72 and a beta of 1.37. StepStone Group LP has a 12-month low of $36.97 and a 12-month high of $70.38. The firm has a fifty day moving average price of $51.18 and a 200-day moving average price of $58.26.

Analyst Ratings Changes

A number of analysts have commented on the company. Evercore ISI upped their price target on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Oppenheimer set a $67.00 price target on shares of StepStone Group and gave the stock an “outperform” rating in a research note on Wednesday, April 16th. Morgan Stanley lowered their target price on StepStone Group from $66.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Finally, Barclays dropped their price target on StepStone Group from $69.00 to $48.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.64.

Insiders Place Their Bets

In related news, CEO Scott W. Hart sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the transaction, the chief executive officer now owns 110,000 shares of the company’s stock, valued at $6,757,300. The trade was a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Anthony Keathley sold 538 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the sale, the chief accounting officer now directly owns 1,386 shares in the company, valued at approximately $87,318. The trade was a 27.96 % decrease in their position. The disclosure for this sale can be found here. 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.