ING Groep NV Trims Holdings in SBA Communications Co. (NASDAQ:SBAC)

ING Groep NV trimmed its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 4.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,733 shares of the technology company’s stock after selling 640 shares during the quarter. ING Groep NV’s holdings in SBA Communications were worth $2,799,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its holdings in shares of SBA Communications by 15.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after acquiring an additional 50 shares during the last quarter. Farther Finance Advisors LLC raised its stake in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after acquiring an additional 53 shares during the period. Versant Capital Management Inc raised its stake in SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after acquiring an additional 53 shares during the period. Assenagon Asset Management S.A. grew its holdings in SBA Communications by 1.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after buying an additional 64 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in SBA Communications by 23.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company’s stock valued at $82,000 after buying an additional 65 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SBAC shares. JMP Securities started coverage on shares of SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Raymond James raised their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company cut their target price on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $251.29.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Price Performance

SBAC stock opened at $213.00 on Friday. The business has a 50-day moving average price of $202.62 and a 200 day moving average price of $220.37. The company has a market capitalization of $22.90 billion, a P/E ratio of 33.60, a PEG ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications 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.