SBA Communications Co. (NASDAQ:SBAC) Shares Sold by National Bank of Canada FI

National Bank of Canada FI reduced its position in shares of SBA Communications Co. (NASDAQ:SBACGet Rating) by 86.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,423 shares of the technology company’s stock after selling 83,961 shares during the period. National Bank of Canada FI’s holdings in SBA Communications were worth $4,619,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Nissay Asset Management Corp Japan ADV lifted its position in shares of SBA Communications by 2.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 11,149 shares of the technology company’s stock worth $4,337,000 after purchasing an additional 303 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of SBA Communications by 118.7% during the first quarter. IFM Investors Pty Ltd now owns 31,029 shares of the technology company’s stock worth $10,677,000 after purchasing an additional 16,839 shares in the last quarter. Chartwell Investment Partners LLC acquired a new position in shares of SBA Communications during the fourth quarter worth $1,958,000. Mutual of America Capital Management LLC lifted its position in shares of SBA Communications by 8.5% during the first quarter. Mutual of America Capital Management LLC now owns 15,588 shares of the technology company’s stock worth $5,364,000 after purchasing an additional 1,223 shares in the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of SBA Communications during the fourth quarter worth $249,000. 95.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Cowen upped their price target on shares of SBA Communications from $373.00 to $382.00 in a report on Tuesday, April 26th. Cowen upped their price target on shares of SBA Communications from $373.00 to $382.00 in a report on Tuesday, April 26th. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, June 10th. Wells Fargo & Company cut their price target on shares of SBA Communications from $390.00 to $355.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of SBA Communications from $375.00 to $385.00 in a report on Tuesday. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $385.41.

SBA Communications Price Performance

SBAC stock opened at $338.17 on Wednesday. The firm has a fifty day moving average price of $323.45 and a two-hundred day moving average price of $328.21. The firm has a market cap of $36.46 billion, a price-to-earnings ratio of 85.40 and a beta of 0.43. SBA Communications Co. has a 1-year low of $286.41 and a 1-year high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.26). The firm had revenue of $652.01 million for the quarter, compared to the consensus estimate of $626.30 million. SBA Communications had a negative return on equity of 8.54% and a net margin of 18.40%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.64 EPS. As a group, analysts expect that SBA Communications Co. will post 11.08 EPS for the current fiscal year.

Insider Transactions at SBA Communications

In other news, EVP Mark R. Ciarfella sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were 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 owns 23,884 shares in the company, valued at $8,073,986.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jeffrey Stoops sold 30,000 shares of the stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $344.07, for a total value of $10,322,100.00. Following the completion of the transaction, the chief executive officer now owns 83,668 shares in the company, valued at approximately $28,787,648.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark R. Ciarfella sold 1,000 shares of the stock in a transaction dated Tuesday, June 7th. The shares were 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 owns 23,884 shares of the company’s stock, valued at approximately $8,073,986.20. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

About SBA Communications

(Get Rating)

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.

See Also

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

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