State of Alaska Department of Revenue Has $13.05 Million Position in SBA Communications Co. (NASDAQ:SBAC)

State of Alaska Department of Revenue raised its stake in SBA Communications Co. (NASDAQ:SBAC) by 0.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 64,049 shares of the technology company’s stock after purchasing an additional 294 shares during the quarter. State of Alaska Department of Revenue’s holdings in SBA Communications were worth $13,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBAC. State Street Corp boosted its holdings in shares of SBA Communications by 1.8% during the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after buying an additional 81,566 shares during the period. JPMorgan Chase & Co. raised its stake in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after buying an additional 605,872 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in SBA Communications by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock worth $305,637,000 after purchasing an additional 62,555 shares in the last quarter. Victory Capital Management Inc. boosted its stake in SBA Communications by 2,821.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after buying an additional 1,174,469 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of SBA Communications by 377.6% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SBAC. Wells Fargo & Company dropped their price objective on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. KeyCorp upped their target price on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Raymond James increased their price objective 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. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

SBA Communications Stock Up 3.0 %

Shares of SBAC stock opened at $203.48 on Thursday. The firm has a market cap of $21.88 billion, a PE ratio of 32.09, a P/E/G ratio of 0.70 and a beta of 0.69. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The company’s fifty day simple moving average is $206.31 and its 200-day simple moving average is $221.27.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

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.