SBA Communications (NASDAQ:SBAC) Price Target Raised to $225.00 at Wells Fargo & Company

SBA Communications (NASDAQ:SBAC) had its price objective hoisted by analysts at Wells Fargo & Company from $210.00 to $225.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 3.12% from the company’s current price.

SBAC has been the subject of several other reports. JMP Securities assumed coverage on SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Barclays lowered their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. TD Cowen lifted their price objective on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday. Finally, StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $253.07.

SBA Communications Stock Up 1.3 %

SBAC opened at $218.20 on Wednesday. The firm has a market cap of $23.46 billion, a PE ratio of 34.42, a P/E/G ratio of 0.74 and a beta of 0.69. The business has a fifty day simple moving average of $203.52 and a 200-day simple moving average of $220.38. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

Insider Buying and Selling

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

Hedge Funds Weigh In On SBA Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. Ashton Thomas Securities LLC bought a new position in SBA Communications during the third quarter valued at about $26,000. Evermay Wealth Management LLC bought a new position in SBA Communications during the fourth quarter valued at about $27,000. Graney & King LLC bought a new position in SBA Communications during the fourth quarter valued at about $29,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $35,000. Finally, Oakworth Capital Inc. grew its stake in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Company Profile

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.