Piper Jaffray Cos. (NYSE:PJC)’s share price traded down 4.1% on Friday . The stock traded as low as $41.12 and last traded at $41.37, with a volume of 53,247 shares changing hands. The stock had previously closed at $43.15.

Several equities research analysts have issued reports on the company. TheStreet downgraded Piper Jaffray Cos. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. Sandler O’Neill downgraded Piper Jaffray Cos. from a “buy” rating to a “hold” rating in a research report on Friday, April 15th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Piper Jaffray Cos. currently has a consensus rating of “Hold” and an average target price of $43.80.

The firm has a market cap of $665.33 million and a P/E ratio of 16.66. The stock has a 50 day moving average price of $39.93 and a 200 day moving average price of $41.55.

Piper Jaffray Cos. (NYSE:PJC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.35. The firm earned $170.50 million during the quarter, compared to analysts’ expectations of $143.86 million. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Piper Jaffray Cos.’s revenue was up 2.0% on a year-over-year basis. Analysts expect that Piper Jaffray Cos. will post $3.18 EPS for the current fiscal year.

In related news, insider R Scott Larue sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $41.76, for a total value of $835,200.00. Following the completion of the transaction, the insider now directly owns 79,653 shares in the company, valued at approximately $3,326,309.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

A number of large investors recently bought and sold shares of the company. Bank of Montreal Can increased its stake in Piper Jaffray Cos. by 3,579.6% in the fourth quarter. Bank of Montreal Can now owns 67,963 shares of the company’s stock worth $2,745,000 after buying an additional 66,116 shares during the period. Rhumbline Advisers increased its stake in Piper Jaffray Cos. by 1.7% in the fourth quarter. Rhumbline Advisers now owns 27,951 shares of the company’s stock worth $1,129,000 after buying an additional 465 shares during the period. Finally, California State Teachers Retirement System increased its stake in Piper Jaffray Cos. by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 27,976 shares of the company’s stock worth $1,130,000 after buying an additional 400 shares during the period.

Piper Jaffray Companies is an investment bank and asset management firm serving the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The Company provides products and services including equity and debt capital markets products, public finance services, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research and asset management services.

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