Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. StepStone Group Inc shares valued at $131,026 were sold by Keck Thomas on Feb 26 ’24. At $35.47 per share, Keck Thomas sold 3,694 shares. The insider’s holdings dropped to 200,750 shares worth approximately $7.02 million following the completion of this transaction.
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Also, Keck Thomas sold 53,403 shares, netting a total of over 1,894,204 in proceeds. Following the sale of shares at $35.47 each, the insider now holds 204,444 shares.
Before that, Keck Thomas had sold 48,662 shares from its account. In a trade valued at $1,736,260, the Director traded StepStone Group Inc shares for $35.68 each. Upon closing the transaction, the insider’s holdings decreased to 48,662 shares, worth approximately $9.02 million.
As published in their initiating research note from Oppenheimer on March 20, 2024, StepStone Group Inc [STEP] has been an Outperform and the price target has been revised to $48. Analysts at BofA Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in early September. As of August 31, 2022, Barclays has initiated its “an Equal weight” rating for STEP. Earlier on July 19, 2022, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for STEP stock which previously was a “an Overweight”.
Analyzing STEP Stock Performance
During the last five days, there has been a surge of approximately 3.74%. Over the course of the year, StepStone Group Inc shares have jumped approximately 9.90%. Shares of the company reached a 52-week high of $37.40 on 02/09/24 and a 52-week low of $30.46 on 01/05/24. A 50-day SMA is recorded $33.93, while a 200-day SMA reached $29.62. Nevertheless, trading volume fell to 0.25 million shares from 0.18 million shares the previous day.
Support And Resistance Levels for StepStone Group Inc (STEP)
According to the 24-hour chart, there is a support level at 34.00, which, if violated, would cause prices to drop to 33.02. In the upper region, resistance lies at 35.62. The next price resistance is at 36.26. RSI (Relative Strength Index) is 57.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.30, which suggests the price will decrease in the coming days. Percent R is at 11.09%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is StepStone Group Inc subject to short interest?
Stocks of StepStone Group Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.23 million shares to 1.63 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 1.4 million shares. A jump of 14.11% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.71 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.71.
