StepStone Group, Inc. Class A (STEP)

StepStone Group Inc. has experienced several notable stock events in the past six months. On September 18, 2025, the company's shares rose following an upgrade by Goldman Sachs, which adjusted its price target to $83 from $64 and upgraded the stock to "Buy" from "Neutral". On September 29, 2025, an insider sold shares worth $646,990, according to an SEC filing. The company's stock price has seen a significant increase this year, reflecting strong fundraising momentum across its business segments. Despite this positive trend, the company has faced persistent unprofitability, recent net losses (US$38.42 million in Q1), and reduced dividends. Concerns regarding board independence have also been noted. Recent initiatives, such as expanding private market offerings to individual investors in Europe, are viewed as incremental and could broaden StepStone's customer base and assets under management, potentially fueling new growth catalysts.

While direct explicit statements about the seasonality of demand for StepStone Group's specific investment products and services are not readily available, the broader private markets in which it operates exhibit some seasonal trends. Real estate investment can experience spikes in demand during festive seasons and a general slowdown in the housing market towards the end of the year. Commercial real estate volumes typically see a rise in the final quarter of the year. In private equity, dealmaking can start strong in the first quarter but may slow down in the second quarter. Venture capital investment can also experience a seasonal lull in activity across the Americas and Europe during the third quarter. The private debt market is anticipated to have a robust year for deal flow in 2025, driven by a rebound in M&A activity. These trends suggest that while not explicitly stated for StepStone, the demand for private market investments can be influenced by broader market cycles and seasonal investor behavior.

StepStone Group Inc. is a global private markets investment firm providing customized investment solutions and advisory services to institutional investors. Founded in 2007 and headquartered in New York City, the company operates within the financial services sector, specifically in the private markets investment industry. StepStone's services encompass private equity, private debt, real estate, and infrastructure and real assets, offering investment strategies such as primary fund investments, secondary investments, and co-investments. Additionally, StepStone provides a proprietary private market intelligence (SPI) market research platform and asset management services.

StepStone Group Inc. has a significant global presence with its headquarters in New York City and additional offices across North America, Europe, Asia, and Australia. Specific office locations include San Francisco, Cleveland, Toronto, Dublin, London, Luxembourg, Zurich, Beijing, Hong Kong, Seoul, Tokyo, Sao Paulo, Sydney, and Perth. StepStone has expanded its global reach, opening new offices in Jeonju, South Korea, in June 2025, and in Riyadh in October 2025. The firm's global footprint is considered a favorable position to tap into worldwide demand for private markets.

StepStone Group Inc. has maintained a strong brand reputation in the past year, marked by several positive developments. In June 2025, StepStone Real Estate was named Investment Consultancy of the Year by IPE Real Estate for the fourth consecutive year. Also in June 2025, FTSE Russell announced a partnership with StepStone to jointly develop private asset indices, data, and analytics products, leveraging StepStone's extensive private markets database. The company's 2023 Responsible Investment Report underscores its commitment to integrating Environmental, Social, and Governance (ESG) factors into its investment processes. No specific events negatively impacting StepStone Group's brand reputation in the past year were identified in the provided information.

As of December 31, 2024, StepStone Group Inc. had approximately $179 billion in assets under management and oversaw about $698 billion of total capital. The company has a substantial institutional ownership base, with 612 institutional owners and shareholders holding a total of 93,100,625 shares. Major institutional owners include prominent firms such as BlackRock, Inc., Vanguard Group Inc., and Price T Rowe Associates Inc /md/. As of May 22, 2024, there was one stockholder of record for its Class A common stock and 58 stockholders of record for its Class B common stock.