Van ECK Associates Corp Purchases 213 Shares of SBA Communications Co. (NASDAQ:SBAC)

Van ECK Associates Corp lifted its position in SBA Communications Co. (NASDAQ:SBACFree Report) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,956 shares of the technology company’s stock after purchasing an additional 213 shares during the period. Van ECK Associates Corp’s holdings in SBA Communications were worth $4,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its stake in SBA Communications by 0.5% during the second quarter. State Street Corp now owns 4,760,357 shares of the technology company’s stock valued at $1,103,260,000 after acquiring an additional 23,330 shares in the last quarter. Principal Financial Group Inc. grew its stake in SBA Communications by 0.8% during the third quarter. Principal Financial Group Inc. now owns 2,801,806 shares of the technology company’s stock valued at $560,838,000 after acquiring an additional 21,792 shares in the last quarter. JPMorgan Chase & Co. grew its stake in SBA Communications by 6.4% during the second quarter. JPMorgan Chase & Co. now owns 2,698,579 shares of the technology company’s stock valued at $625,423,000 after acquiring an additional 161,151 shares in the last quarter. Geode Capital Management LLC grew its stake in SBA Communications by 2.1% during the second quarter. Geode Capital Management LLC now owns 2,584,205 shares of the technology company’s stock valued at $597,523,000 after acquiring an additional 52,667 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in SBA Communications by 43.0% during the second quarter. Brown Advisory Inc. now owns 2,108,540 shares of the technology company’s stock valued at $488,675,000 after acquiring an additional 634,135 shares in the last quarter. 92.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SBA Communications

In related news, CAO Brian D. Lazarus sold 20,605 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,766,644.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Brian D. Lazarus sold 20,605 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,766,644.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George R. Krouse, Jr. sold 500 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $234.43, for a total transaction of $117,215.00. Following the completion of the transaction, the director now directly owns 8,001 shares in the company, valued at approximately $1,875,674.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,089 shares of company stock worth $42,590,345. 1.60% of the stock is currently owned by insiders.

SBA Communications Trading Up 0.6 %

SBA Communications stock opened at $217.45 on Monday. The firm has a 50-day moving average price of $240.04 and a 200-day moving average price of $224.70. The firm has a market capitalization of $23.46 billion, a PE ratio of 47.90, a price-to-earnings-growth ratio of 1.06 and a beta of 0.58. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $294.28.

Analyst Upgrades and Downgrades

SBAC has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on shares of SBA Communications from $270.00 to $245.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Barclays increased their price objective on shares of SBA Communications from $251.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. 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 report on Monday, October 16th. BMO Capital Markets upgraded shares of SBA Communications from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $245.00 to $285.00 in a research report on Friday, December 15th. Finally, KeyCorp increased their price objective on shares of SBA Communications from $251.00 to $276.00 and gave the company an “overweight” rating in a research report on Wednesday, December 6th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and an average price target of $279.31.

View Our Latest Stock Report on SBAC

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.

Further Reading

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

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