PIPR PIPER SANDLER COMPANIES Insider Trading

Head of Financial Services Group sold 90,000 shares for $7.1M across 6 transactions; 5 prior PIPR sells all well-timed with avg 90d return of -74.7%.

Jonathan J Doyle, Head of Financial Services Group, executed 6 separate sales totaling 90,000 shares for $7,096,012.04 on May 4–5, 2026, reducing his holdings by 15.9% to 477,684 shares. His prior transaction history at PIPR is notably consistent: all 5 previous sells at this ticker were well-timed, with average 90-day returns of -74.7%, -74.8%, -74.6%, -74.9%, and -75.9%—indicating he has sold before substantial declines. At current price of $79.05, the stock is -16.8% from its 52-week high and has gained +12.0% over 90 days; the blended sale price of $78.84 falls near that range. The company trades at a P/E of 19.96 with +24.5% annual revenue growth and $5.6B market cap—fundamentals appear stable—but the insider's demonstrated pattern of well-timed exits warrants investor attention to the thesis underlying this large liquidation.

PIPR General Counsel Geelan sells 2,000 shares for $645,371 across 2 trades; prior same-ticker sales both well-timed.

John W. Geelan, General Counsel of Piper Sandler Companies, executed 2 separate sales on 2025-08-11, selling 366 shares at $321.46 and 1,634 shares at $322.96, totaling 2,000 shares for $645,371.00 at a blended average price of $322.69. This reduces his holdings from 14,645 shares to 12,645 shares, a 13.7% reduction in his position. His prior 2 open-market sells at PIPR (both on 2024-11-07) exhibited a 90-day well-timed rate of 100%, with both sales followed by negative 90-day returns of -75.5% and -76.2%, indicating the insider consistently sold before subsequent declines at this ticker. The company carries a low P/E of 6.82 and posted revenue growth of +13.2% year-over-year, but this latest transaction continues a pattern of opportunistic selling by an executive with a demonstrable track record of selling prior to stock weakness at PIPR.

PIPR CEO Abraham Chad R sold 18,000 shares (18.0K shares) for $5,783,022.67 across 12 transactions on 2025-08-05 and 2025-08-06

Abraham Chad R, CEO and Chairman of Piper Sandler Companies, executed 12 separate sales totaling 18,000 shares (18.0K shares) for $5,783,022.67, reducing his holdings from 71.6K to 53.6K shares (-25.2% reduction). His prior trades at PIPR show a consistent pattern of well-timed selling: all 5 prior sales at this ticker were followed by 90-day declines ranging from -68.5% to -70.7%, with a 100% timing success rate at the 90-day mark. This established track record of selling before downturns makes the scale and multi-day execution of this latest transaction—18,000 shares at blended average price $321.28—notable for pattern continuity. The company's fundamentals remain solid (P/E 6.74, $42.2M quarterly net income, +13.2% annual revenue growth), and the stock has risen +27.7% over 90 days, yet the CEO's decision to divest a quarter of his holdings aligns with his historical behavior of selling into strength.

PIPR: Jonathan J Doyle (Financial Services Head) sells 3,536 shares ($1.1M) in 4 separate trades at $314.73–$318.19 on 2025-08-04.

Jonathan J Doyle, Head of Financial Services Group at Piper Sandler, executed 4 separate sales totaling 3,536 shares for $1,120,347.59 across a narrow price band of $314.73–$318.19 on 2025-08-04, reducing his holdings by 2.6% to 132,910 shares. His prior 5 trades at PIPR (all on 2024-11-07) posted 90-day returns of -75.0% to -75.7%, establishing a perfect 5-of-5 well-timed sell pattern at this specific ticker. His broader cross-ticker track record across 20 prior sales shows an even more pronounced well-timed rate of 100.00%, with average 90-day returns of -72.4%, suggesting a consistent ability to sell ahead of declines. The stock has since recovered to current levels 8.0% below its 52-week high and +30.8% over 90 days, positioning this August 2025 transaction at an interim peak relative to the prior year's range and well before the recent 90-day rally.

President Schoneman sells 15,000 shares (79.6% of holdings) at $299.45 avg, down from 52-week high

Debbra L. Schoneman, President of Piper Sandler, executed 4 separate sales totaling 15,000 shares for $4,491,758.15 on 2025-02-13, reducing her holdings from 18,837 shares to 3,837 shares (a -79.6% reduction). The blended average transaction price of $299.45 occurred near the current 52-week high, with the stock now trading at $76.50—a significant move downward post-transaction. Her prior PIPR trades show a consistent pattern: all 5 of 5 prior sells at this ticker produced negative 90-day returns averaging -68.4% to -68.8%, and her cross-ticker track record of 20 prior sells achieved a 100.00% well-timed rate (avg 90d return -70.6%). This substantial reduction in executive holdings at relatively elevated price levels, combined with the insider's demonstrated pattern of well-timed sales across both her PIPR history and broader trading activity, represents a material signal warrant attention.

Head of Financial Services Group sells 10,000 shares at $335.13 avg; 90-day track record at PIPR is 5-for-5 well-timed sells with -70% avg return

Jonathan J Doyle, Head of Financial Services Group, executed 6 separate sales totaling 10,000 shares for $3,351,288.79 on 2024-11-07, reducing his PIPR holdings by 6.2%. The blended average transaction price of $335.13 is 4× higher than the current stock price of $83.61, meaning this sale occurred near the peak of the 52-week range ($86.79). Critically, Doyle's same-ticker history at PIPR shows 5 prior sells (all on 2024-08-05), all of which turned out to be well-timed with 90-day returns averaging -70.0%, and a 100% timing success rate at this ticker. His cross-ticker track record across 16 prior sales shows a 100% well-timed rate with an average 90-day return of -71.0%, demonstrating a consistent pattern of selling before subsequent declines. This current sale—at prices substantially above recent market levels—is consistent with that pattern of prescient selling.

General Counsel Geelan sold 1,500 shares ($511,995.60) at blended $341.33 on Nov 7; holds 13,565 shares post-sale

Geelan John W, General Counsel at Piper Sandler, executed two separate sales totaling 1,500 shares for $511,995.60 at prices near the 52-week high ($341.33 blended average vs. $86.79 peak). This represents a 10.0% reduction in his holdings to 13,565 shares. The sales occurred at prices substantially elevated above the current market price of $83.61, suggesting a material shift in stock valuation rather than a modest rebalancing activity. Without visibility into whether these sales were scheduled (10b5-1 plan) or discretionary, the scale and timing relative to recent price momentum (90-day +29.2%) merit observation for context, though the modest percentage reduction and continued significant ownership stake (13.6K shares remaining) do not signal alarm.

CEO Abraham Chad R sold 8,000 shares (17.2% of holdings) for $2,128,201.03 on 2024-08-15; prior trades at PIPR show 100% well-timed 90-day timing.

Abraham Chad R, CEO and Chairman, executed 3 separate sales totaling 8,000 shares for $2,128,201.03 with a blended average price of $266.03, reducing his PIPR holdings by 17.2% from 46,514 to 38,514 shares. Notably, his 5 prior sales at this ticker (all in early February 2024) were perfectly timed: all 5 prior trades achieved negative 90-day returns, meaning the stock declined after each sale, validating the timing decision. His cross-ticker track record across 19 prior sells similarly shows a 90-day well-timed rate of 100.00% with an average 90-day return of -71.2%, indicating a consistent pattern of selling into strength. The fundamental backdrop shows modest metrics (P/E of 8.91, annual revenue decline of -5.4%), though the stock has rebounded 25.3% over 90 days and currently trades -3.4% from its 52-week high of $69.34, suggesting the insider is selling into recent positive momentum. The scale of this sale—$2.1M liquidated in a single filing—combined with the insider's demonstrated ability to execute well-timed exits warrants investor attention to whether this signals the insider's view of current valuation levels.

CFO Jonathan Doyle sells 12,695 PIPR shares for $3.0M; all 5 prior PIPR sells preceded subsequent declines.

Jonathan J Doyle, Head of Financial Services Group at Piper Sandler, executed 5 separate sales totaling 12,695 shares for $3,004,038.10 on 2024-08-05 at prices ranging from $234.48 to $238.65, reducing his holdings to 160,095 shares. The filing is material on account of the size ($3.0M in proceeds) and his seniority as a functional head. The transaction's significance is amplified by his prior PIPR transaction record: all 5 of his earlier sells at this ticker, executed on 2024-02-06 and 2024-02-07, were followed by negative 90-day returns (-70.4% to -71.2%), yielding a 100% well-timed rate on the same ticker. His cross-ticker track record reinforces this pattern: 11 prior sells across all holdings show an average 90-day return of -71.4% with a 90d well-timed rate of 100.00%, indicating a consistent ability to exit before subsequent declines. Current stock price ($60.76) sits 12.4% below its 52-week high of $69.34, and the company trades at a P/E of 8.08 with FY revenue down 5.4% year-over-year. The consistency of his prior sell timing at this specific ticker—combined with the magnitude of this transaction and the company's tepid growth profile—merits monitoring of near-term price action relative to historical patterns.