StepStone Group Inc.
STEP · Investment Advice · 66.5M shares · +19%/yr ↑ dilution · EDGAR filings ↗
Reference price $41.71 · est. market cap ~$2.8B — last insider purchase, 2026-06-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C64StepStone Group — private-markets solutions/asset manager with distorted GAAP metrics.
Strengths
- Growing fee-earning AUM; diversified private-markets platform
Risks
- Net loss and negative ROA (carry/NCI accounting); volatile reported results
- Fundraising and market sensitivity
Notable findings
- Net lossNet loss (net margin -26.9%)
- Customer concentration~17% of revenue from one customer/distributor — Our top 10 clients, which contribute to 65 separate mandates and commitments to commingled funds, comprise 17% of our total management and advisory fees
- Chronic dilutionShare count +19%/yr over 4y (dilution, book value/share -125%)
- Insider buyingInsider buying — 5 open-market buy(s) by 2 insider(s) (cluster of 2 insiders, ~$6M, last 6mo) Form 4 ↗
- Insider sellingInsider selling — 9 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$10M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Net margin
-26.9%
Return on equity
129.6%
Return on assets
-7.9%
Revenue growth (QoQ)
0.4%
Free cash flow
$64M
Tangible book value
-$1.2B
Stock comp / revenue
81.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-11 | McCabe Michael I | Buy | 23K | $42.44 |
| 2026-06-11 | McCabe Michael I | Buy | 97K | $41.71 |
| 2026-06-03 | Fernandez Jose A | Sell | 2.3K | $42.64 |
| 2026-06-02 | Fernandez Jose A | Sell | 85K | $46.41 |
| 2026-06-02 | Fernandez Jose A | Sell | 15K | $47.33 |
| 2026-06-01 | Fernandez Jose A | Sell | 56K | $48.57 |
| 2026-06-01 | Fernandez Jose A | Sell | 12K | $49.78 |
| 2026-06-01 | Fernandez Jose A | Sell | 3.4K | $50.59 |
| 2026-06-01 | Fernandez Jose A | Sell | 28K | $47.90 |
| 2026-03-31 | Fernandez Jose A | Conversion | 200K | — |
| 2026-03-31 | Park David Y | Grant | 64 | — |
| 2026-03-31 | Fernandez Jose A | Disposition | 200K | $0.00 |
| 2026-03-13 | Keathley Anthony | Grant | 1.6K | — |
| 2026-03-13 | McCabe Michael I | Grant | 7.2K | — |
| 2026-03-13 | Park David Y | Grant | 9.8K | — |
| 2026-03-13 | Park David Y | Grant | 22K | — |
| 2026-03-13 | Ment Jason P | Grant | 16K | — |
| 2026-03-13 | Fernandez Jose A | Grant | 7.2K | — |
| 2026-03-13 | Keck Thomas | Grant | 7.2K | — |
| 2026-03-13 | Hart Scott W | Grant | 28K | — |
| 2026-02-23 | Mitchell Steven R | Buy | 1.2K | $44.65 |
| 2026-02-23 | Mitchell Steven R | Buy | 86 | $44.33 |
| 2026-02-23 | Mitchell Steven R | Buy | 12K | $44.18 |
| 2026-02-14 | Keathley Anthony | Tax withheld | 296 | $56.76 |
| 2026-02-14 | Park David Y | Tax withheld | 3.5K | $56.76 |
| 2026-01-26 | Hart Scott W | Sell | 4.6K | $71.99 |
| 2026-01-26 | Hart Scott W | Sell | 5.4K | $72.97 |
| 2025-12-26 | Hart Scott W | Sell | 10K | $66.17 |
| 2025-12-10 | McCabe Michael I | Sell | 109K | $66.15 |
| 2025-12-10 | McCabe Michael I | Sell | 9.3K | $66.82 |
| 2025-12-10 | McCabe Michael I | Sell | 74K | $66.14 |
| 2025-11-25 | Hart Scott W | Sell | 10K | $61.70 |
| 2025-11-13 | Fernandez Jose A | Sell | 55K | $62.18 |
| 2025-11-13 | Fernandez Jose A | Sell | 15K | $62.75 |
| 2025-11-12 | Fernandez Jose A | Sell | 6.6K | $61.73 |
| 2025-11-12 | Fernandez Jose A | Sell | 58K | $62.70 |
| 2025-11-12 | Fernandez Jose A | Sell | 6.0K | $63.17 |
| 2025-11-11 | Fernandez Jose A | Sell | 70K | $61.41 |
| 2025-11-11 | Fernandez Jose A | Sell | 200 | $62.07 |
| 2025-10-27 | Hart Scott W | Sell | 10K | $64.34 |
| 2025-10-01 | Park David Y | Grant | 109 | $45.81 |
| 2025-09-30 | Fernandez Jose A | Disposition | 200K | $0.00 |
| 2025-09-30 | Keck Thomas | Gift | 31K | — |
| 2025-09-30 | Keck Thomas | Gift | 31K | — |
| 2025-09-30 | Fernandez Jose A | Conversion | 200K | — |
| 2025-09-25 | Hart Scott W | Sell | 1.4K | $65.18 |
| 2025-09-25 | Hart Scott W | Sell | 8.6K | $64.62 |
| 2025-09-11 | Park David Y | Sell | 1.0K | $63.26 |
| 2025-09-09 | Brown Valerie Gay | Grant | 3.3K | — |
| 2025-09-09 | Raymond Anne L | Grant | 3.3K | — |
| 2025-09-09 | Hoffmeister David F | Grant | 3.7K | — |
| 2025-08-25 | Hart Scott W | Sell | 10K | $61.44 |
| 2025-07-25 | Hart Scott W | Sell | 10K | $61.28 |
| 2025-07-10 | Hart Scott W | Sell | 10K | $60.29 |
| 2025-06-12 | McCabe Michael I | Sell | 68K | $56.54 |
| 2025-05-28 | Ment Jason P | Sell | 35K | $60.14 |
| 2025-05-28 | Ment Jason P | Sell | 600 | $62.02 |
| 2025-05-28 | McCabe Michael I | Sell | 200K | $59.92 |
| 2025-05-28 | McCabe Michael I | Sell | 100 | $60.46 |
| 2025-05-28 | McCabe Michael I | Sell | 51K | $59.90 |
| 2025-05-28 | Hart Scott W | Sell | 28K | $60.06 |
| 2025-05-28 | Ment Jason P | Sell | 20K | $61.65 |
| 2025-05-23 | Ment Jason P | Sell | 900 | $60.00 |
| 2025-05-23 | Hart Scott W | Sell | 1.4K | $60.01 |
| 2025-05-14 | Ment Jason P | Sell | 800 | $60.02 |
| 2025-05-14 | Hart Scott W | Sell | 900 | $60.01 |
| 2025-03-14 | Keathley Anthony | Grant | 838 | — |
| 2025-03-14 | Keck Thomas | Grant | 4.8K | — |
| 2025-03-14 | McCabe Michael I | Grant | 4.8K | — |
| 2025-03-14 | Park David Y | Grant | 5.5K | — |
| 2025-03-14 | Fernandez Jose A | Grant | 4.8K | — |
| 2025-03-14 | Ment Jason P | Grant | 7.2K | — |
| 2025-03-14 | Hart Scott W | Grant | 8.4K | — |
| 2025-02-20 | Hart Scott W | Sell | 6.8K | $61.00 |
| 2025-02-20 | Hart Scott W | Sell | 2.8K | $62.27 |
| 2025-02-20 | Hart Scott W | Sell | 431 | $62.79 |
| 2025-02-19 | Keathley Anthony | Sell | 538 | $63.00 |
| 2025-02-14 | Park David Y | Tax withheld | 2.8K | $62.47 |
| 2025-02-14 | Keathley Anthony | Tax withheld | 234 | $62.47 |
| 2024-12-31 | Keck Thomas | Gift | 50K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-01 | 2026-05-29 | 0001796022-26-000002 ↗ |
| 10-K | 2026-05-27 | 2026-03-31 | 0001628280-26-038446 ↗ |
| 8-K | 2026-05-20 | 2026-05-20 | 0001628280-26-036882 ↗ |
| 10-Q | 2026-02-05 | 2025-12-31 | 0001628280-26-005769 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0001628280-26-005761 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001796022-25-000073 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001628280-25-050217 ↗ |
| 8-K | 2025-09-19 | 2025-09-18 | 0001796022-25-000072 ↗ |
| 8-K | 2025-09-11 | 2025-09-09 | 0001796022-25-000068 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001796022-25-000060 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001796022-25-000059 ↗ |
| 8-K | 2025-05-30 | 2025-05-30 | 0001193125-25-132146 ↗ |