Piper Sandler Companies (NYSE:PIPR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Piper Sandler Companies from a "hold" to a "buy" rating, signaling increased confidence in the stock's potential.
• Piper Sandler reported a strong earnings performance with $2.95 EPS, surpassing estimates and showing a 13.4% year-over-year revenue increase of $405.39 million.
• Insider transactions showed significant selling activity, with insider Scott C. Taylor selling 2,600 shares, representing a 13.74% decline in ownership.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

PIPR has been the subject of several other research reports. Wolfe Research raised shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price target for the company in a research report on Thursday, July 10th. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

Piper Sandler Companies Trading Up 3.7%

Shares of PIPR traded up $11.99 during trading hours on Friday, hitting $337.22. The company had a trading volume of 174,222 shares, compared to its average volume of 145,132. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 28.46 and a beta of 1.50. The company's 50 day moving average is $290.24. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $1.99 by $0.96. The firm had revenue of $405.39 million for the quarter, compared to the consensus estimate of $349.40 million. Piper Sandler Companies had a return on equity of 18.67% and a net margin of 13.18%. The company's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.52 earnings per share. On average, equities research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies news, CEO Chad R. Abraham sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $319.33, for a total transaction of $3,193,300.00. Following the transaction, the chief executive officer owned 53,558 shares in the company, valued at approximately $17,102,676.14. This represents a 15.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott C. Taylor sold 2,600 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $319.86, for a total value of $831,636.00. Following the transaction, the director owned 16,319 shares in the company, valued at $5,219,795.34. This trade represents a 13.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,136 shares of company stock worth $8,380,342 over the last quarter. Insiders own 2.70% of the company's stock.

Institutional Trading of Piper Sandler Companies

Several hedge funds and other institutional investors have recently made changes to their positions in PIPR. CENTRAL TRUST Co bought a new position in Piper Sandler Companies in the 2nd quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB lifted its position in Piper Sandler Companies by 131.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 62 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Piper Sandler Companies in the 1st quarter valued at approximately $27,000. AdvisorNet Financial Inc lifted its position in Piper Sandler Companies by 48.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 37 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Piper Sandler Companies by 495.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company's stock.

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.