Piper Sandler Companies (NYSE:PIPR) Trading 4.3% Higher – Still a Buy?

Piper Sandler Companies (NYSE:PIPRGet Free Report) shares traded up 4.3% during trading on Tuesday . The stock traded as high as $288.47 and last traded at $310.29. 154,087 shares changed hands during mid-day trading, an increase of 104% from the average session volume of 75,373 shares. The stock had previously closed at $297.52.

Analysts Set New Price Targets

PIPR has been the topic of several research reports. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group downgraded Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective on the stock. in a report on Monday, January 6th.

Get Our Latest Analysis on Piper Sandler Companies

Piper Sandler Companies Trading Up 2.7 %

The firm has a fifty day simple moving average of $300.35 and a 200-day simple moving average of $312.42. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 33.15 and a beta of 1.46.

Institutional Trading of Piper Sandler Companies

Several institutional investors and hedge funds have recently made changes to their positions in PIPR. FMR LLC raised its position in shares of Piper Sandler Companies by 49.0% during the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after acquiring an additional 205,584 shares during the last quarter. Fred Alger Management LLC bought a new stake in shares of Piper Sandler Companies during the 3rd quarter valued at $14,645,000. Millennium Management LLC raised its position in shares of Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after acquiring an additional 30,942 shares during the last quarter. Barclays PLC raised its position in shares of Piper Sandler Companies by 307.2% during the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after acquiring an additional 24,388 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Piper Sandler Companies during the 3rd quarter valued at $6,106,000. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

(Get Free Report)

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.

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