SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 43.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,775 shares of the technology company’s stock after purchasing an additional 2,352 shares during the quarter. Summit Trail Advisors LLC’s holdings in SBA Communications were worth $1,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in SBA Communications during the 3rd quarter worth $26,000. Evermay Wealth Management LLC acquired a new position in SBA Communications during the 4th quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in SBA Communications during the 3rd quarter worth $35,000. Friedenthal Financial bought a new stake in shares of SBA Communications in the 3rd quarter worth $50,000. Finally, Farther Finance Advisors LLC raised its stake in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Up 0.2 %

SBAC opened at $206.31 on Tuesday. The stock’s 50 day moving average price is $204.93 and its two-hundred day moving average price is $221.22. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a market capitalization of $22.18 billion, a P/E ratio of 32.54, a price-to-earnings-growth ratio of 0.73 and a beta of 0.69.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. KeyCorp boosted their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. JMP Securities initiated coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective on the stock. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Raymond James boosted their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company cut their target price on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

Insider Buying and Selling

In related news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

About SBA Communications

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 throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.