Swiss National Bank Sells 42,800 Shares of SBA Communications Co. (NASDAQ:SBAC)

Swiss National Bank cut its position in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 10.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 348,500 shares of the technology company’s stock after selling 42,800 shares during the quarter. Swiss National Bank owned approximately 0.32% of SBA Communications worth $69,759,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Carolinas Wealth Consulting LLC grew its position in SBA Communications by 248.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after acquiring an additional 62 shares during the last quarter. Emerald Advisers LLC bought a new position in SBA Communications during the 3rd quarter worth approximately $31,000. Resurgent Financial Advisors LLC bought a new position in SBA Communications during the 4th quarter worth approximately $31,000. Ancora Advisors LLC grew its position in SBA Communications by 88.6% during the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after acquiring an additional 62 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in SBA Communications by 55.8% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 187 shares of the technology company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. 92.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup dropped their price objective on SBA Communications from $260.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. BMO Capital Markets upgraded SBA Communications from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $245.00 to $285.00 in a report on Friday, December 15th. Wells Fargo & Company dropped their price objective on SBA Communications from $270.00 to $245.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. KeyCorp raised their target price on SBA Communications from $251.00 to $276.00 and gave the company an “overweight” rating in a research note on Wednesday, December 6th. Finally, Barclays raised their target price on SBA Communications from $251.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $279.31.

Read Our Latest Report on SBAC

SBA Communications Trading Up 0.5 %

SBA Communications stock opened at $218.60 on Wednesday. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of 48.15, a PEG ratio of 1.12 and a beta of 0.58. The stock has a fifty day simple moving average of $241.88 and a two-hundred day simple moving average of $224.87. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $295.62.

Insiders Place Their Bets

In related news, CAO Brian D. Lazarus sold 20,605 shares of SBA Communications stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $249.35, for a total value of $5,137,856.75. Following the completion of the sale, the chief accounting officer now owns 7,085 shares of the company’s stock, valued at $1,766,644.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Jason V. Silberstein sold 16,465 shares of SBA Communications stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $255.44, for a total value of $4,205,819.60. Following the completion of the sale, the executive vice president now owns 29,908 shares of the company’s stock, valued at $7,639,699.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian D. Lazarus sold 20,605 shares of SBA Communications stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $249.35, for a total value of $5,137,856.75. Following the transaction, the chief accounting officer now owns 7,085 shares in the company, valued at $1,766,644.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,089 shares of company stock valued at $42,590,345. Corporate 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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