11,102 Shares in SBA Communications Corporation (NASDAQ:SBAC) Acquired by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise purchased a new position in shares of SBA Communications Corporation (NASDAQ:SBAC) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,102 shares of the technology company’s stock, valued at approximately $2,442,000.

Several other institutional investors and hedge funds have also bought and sold shares of SBAC. Teacher Retirement System of Texas purchased a new stake in SBA Communications in the 4th quarter worth approximately $205,000. LPL Financial LLC lifted its holdings in SBA Communications by 0.7% in the 4th quarter. LPL Financial LLC now owns 17,713 shares of the technology company’s stock worth $3,610,000 after buying an additional 129 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in SBA Communications by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 31,136 shares of the technology company’s stock worth $6,346,000 after buying an additional 125 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in SBA Communications by 1.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company’s stock worth $1,011,000 after buying an additional 64 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in SBA Communications by 6.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,718 shares of the technology company’s stock worth $350,000 after buying an additional 97 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Trading Up 1.0%

SBA Communications stock opened at $228.92 on Wednesday. The firm has a market cap of $24.60 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.88 and a beta of 0.78. The stock has a fifty day simple moving average of $231.43 and a two-hundred day simple moving average of $222.14. SBA Communications Corporation has a 12 month low of $192.55 and a 12 month high of $252.64.

Insider Activity at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the sale, the director owned 10,522 shares of the company’s stock, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SBAC. Raymond James Financial restated a “strong-buy” rating and issued a $268.00 target price (up previously from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Morgan Stanley raised their target price on SBA Communications from $255.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft cut SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 target price for the company. in a research note on Tuesday, May 20th. Bank of America began coverage on SBA Communications in a research note on Monday, May 19th. They set a “buy” rating and a $260.00 price objective for the company. Finally, Citigroup lifted their price objective on SBA Communications from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $257.19.

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.