Wilmington Savings Fund Society FSB Boosts Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Wilmington Savings Fund Society FSB increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,682 shares of the technology company’s stock after buying an additional 109 shares during the period. Wilmington Savings Fund Society FSB’s holdings in SBA Communications were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SBAC. Victory Capital Management Inc. lifted its holdings in SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after purchasing an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after purchasing an additional 700,791 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. KBC Group NV lifted its stake in SBA Communications by 212.3% in the 4th quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock valued at $83,562,000 after buying an additional 278,737 shares in the last quarter. Finally, Barclays PLC boosted its holdings in SBA Communications by 71.0% in the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock worth $158,386,000 after buying an additional 273,237 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction that occurred on Monday, December 9th. The shares were 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 owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several research reports. Raymond James raised their target price on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. TD Cowen boosted their price target on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $252.29.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $209.24 on Wednesday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The firm has a market capitalization of $22.50 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 0.73 and a beta of 0.69. The stock has a 50 day moving average of $204.60 and a 200 day moving average of $221.18.

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.