SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA decreased its position in SBA Communications Co. (NASDAQ:SBACGet Rating) by 12.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,398 shares of the technology company’s stock after selling 345 shares during the quarter. Banque Pictet & Cie SA’s holdings in SBA Communications were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. acquired a new position in SBA Communications in the 1st quarter valued at about $25,000. Riverview Trust Co acquired a new position in shares of SBA Communications during the 1st quarter valued at about $26,000. Curi Wealth Management LLC acquired a new position in shares of SBA Communications during the 4th quarter valued at about $30,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of SBA Communications by 331.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 95 shares of the technology company’s stock valued at $37,000 after acquiring an additional 73 shares during the last quarter. Finally, Capital Analysts LLC acquired a new position in shares of SBA Communications during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 95.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on SBAC shares. Barclays upped their price objective on shares of SBA Communications from $378.00 to $385.00 and gave the company an “overweight” rating in a research note on Tuesday, April 26th. Wells Fargo & Company dropped their price objective on shares of SBA Communications from $390.00 to $355.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Jefferies Financial Group dropped their price objective on shares of SBA Communications from $383.00 to $347.00 and set a “hold” rating for the company in a research note on Thursday, June 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SBA Communications from $365.00 to $375.00 in a research note on Wednesday, April 27th. Finally, Moffett Nathanson downgraded shares of SBA Communications from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $393.00 to $380.00 in a research report on Monday, April 11th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.06.

SBA Communications Stock Up 0.3 %

NASDAQ SBAC opened at $335.79 on Friday. The stock has a market cap of $36.21 billion, a PE ratio of 84.80 and a beta of 0.43. SBA Communications Co. has a fifty-two week low of $286.41 and a fifty-two week high of $391.15. The business has a 50 day moving average price of $323.66 and a two-hundred day moving average price of $328.20.

Insiders Place Their Bets

In other SBA Communications news, EVP Mark R. Ciarfella sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $338.05, for a total value of $338,050.00. Following the completion of the transaction, the executive vice president now owns 23,884 shares in the company, valued at approximately $8,073,986.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Mark R. Ciarfella sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $338.05, for a total transaction of $338,050.00. Following the completion of the transaction, the executive vice president now directly owns 23,884 shares in the company, valued at approximately $8,073,986.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kevin L. Beebe sold 1,889 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $347.72, for a total value of $656,843.08. Following the transaction, the director now owns 14,813 shares of the company’s stock, valued at $5,150,776.36. The disclosure for this sale can be found here. Insiders sold a total of 32,889 shares of company stock worth $11,316,993 in the last 90 days. 1.80% of the stock is owned by company insiders.

SBA Communications Profile

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SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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