Piper Sandler Companies (NYSE:PIPR) Trading 4.3% Higher – Should You Buy?

Shares of Piper Sandler Companies (NYSE:PIPR) shot up 4.3% on Tuesday . The stock traded as high as $288.47 and last traded at $310.29. 154,087 shares were traded 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.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PIPR. The Goldman Sachs Group downgraded Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 target price 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 research note on Tuesday, January 7th.

Piper Sandler Companies Stock Performance

The firm has a fifty day moving average price of $300.35 and a 200 day moving average price of $312.42. The firm has a market capitalization 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 hedge funds have recently modified their holdings of PIPR. West Oak Capital LLC lifted its holdings in shares of Piper Sandler Companies by 650.0% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,300 shares during the period. USA Financial Formulas acquired a new stake in shares of Piper Sandler Companies in the 3rd quarter valued at approximately $77,000. GAMMA Investing LLC raised its holdings in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 60 shares during the last quarter. CWM LLC raised its holdings in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares during the last quarter. Finally, KBC Group NV raised its holdings in Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 95 shares during 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.