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

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group lowered Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price target on the stock. in a research note on Monday, January 6th. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

Piper Sandler Companies Stock Up 2.7 %

The business has a fifty day simple moving average of $300.35 and a two-hundred day simple moving average of $312.42. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 33.15 and a beta of 1.46.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC boosted its holdings in Piper Sandler Companies by 21.3% during the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock valued at $4,558,000 after purchasing an additional 2,819 shares in the last quarter. Barclays PLC boosted its holdings in shares of Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after acquiring an additional 24,388 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after acquiring an additional 2,689 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Piper Sandler Companies in the 3rd quarter worth approximately $624,000. Finally, Citigroup Inc. boosted its holdings in shares of Piper Sandler Companies by 63.4% in the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock worth $6,101,000 after acquiring an additional 8,337 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Company Profile

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.