Swiss National Bank Lowers Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Swiss National Bank reduced its stake in SBA Communications Co. (NASDAQ:SBACFree Report) by 10.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,500 shares of the technology company’s stock after selling 42,800 shares during the period. Swiss National Bank owned 0.32% of SBA Communications worth $69,759,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SBAC. Banque Cantonale Vaudoise lifted its position in SBA Communications by 27.6% during the third quarter. Banque Cantonale Vaudoise now owns 6,988 shares of the technology company’s stock valued at $1,399,000 after acquiring an additional 1,512 shares during the last quarter. Torray Investment Partners LLC lifted its stake in shares of SBA Communications by 18.3% during the third quarter. Torray Investment Partners LLC now owns 6,439 shares of the technology company’s stock worth $1,289,000 after buying an additional 998 shares during the period. American Assets Capital Advisers LLC lifted its stake in shares of SBA Communications by 54.9% during the third quarter. American Assets Capital Advisers LLC now owns 64,144 shares of the technology company’s stock worth $12,840,000 after buying an additional 22,732 shares during the period. American Assets Investment Management LLC lifted its stake in shares of SBA Communications by 93.9% during the third quarter. American Assets Investment Management LLC now owns 2,255 shares of the technology company’s stock worth $451,000 after buying an additional 1,092 shares during the period. Finally, Banco Santander S.A. acquired a new stake in shares of SBA Communications during the third quarter worth $4,656,000. 92.48% of the stock is currently owned by institutional investors.

SBA Communications Trading Up 0.5 %

SBAC opened at $218.60 on Wednesday. The firm has a market capitalization of $23.58 billion, a PE ratio of 48.15, a PEG ratio of 1.12 and a beta of 0.58. The firm’s 50-day moving average price is $241.88 and its 200 day moving average price is $224.87. SBA Communications Co. has a twelve month low of $185.23 and a twelve month high of $295.62.

Analyst Ratings Changes

Several equities research analysts have recently commented on SBAC shares. Morgan Stanley lowered their price objective on shares of SBA Communications from $311.00 to $227.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Citigroup reduced their target price on shares of SBA Communications from $260.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. KeyCorp raised their target price on shares of SBA Communications from $251.00 to $276.00 and gave the stock an “overweight” rating in a report on Wednesday, December 6th. Barclays raised their target price on shares of SBA Communications from $251.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, Wells Fargo & Company reduced their target price on shares of SBA Communications from $270.00 to $245.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $279.31.

Check Out Our Latest Report on SBA Communications

Insider Activity

In other SBA Communications news, Chairman Steven E. Bernstein sold 46,076 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $250.10, for a total value of $11,523,607.60. Following the sale, the chairman now directly owns 56,314 shares of the company’s stock, valued at approximately $14,084,131.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Mark R. Ciarfella sold 5,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $245.05, for a total transaction of $1,225,250.00. Following the completion of the sale, the executive vice president now owns 29,005 shares in the company, valued at approximately $7,107,675.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Steven E. Bernstein sold 46,076 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $250.10, for a total transaction of $11,523,607.60. Following the transaction, the chairman now owns 56,314 shares of the company’s stock, valued at approximately $14,084,131.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 175,089 shares of company stock valued at $42,590,345. Company insiders own 1.60% of the company’s stock.

About SBA Communications

(Free Report)

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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