Bokf Na Sells 1,381 Shares of SBA Communications Co. (NASDAQ:SBAC)

Bokf Na decreased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 7.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 17,072 shares of the technology company’s stock after selling 1,381 shares during the period. Bokf Na’s holdings in SBA Communications were worth $3,652,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in SBA Communications in the fourth quarter valued at approximately $37,000. Glassman Wealth Services increased its holdings in SBA Communications by 79.1% during the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after purchasing an additional 68 shares during the period. Pinnacle Bancorp Inc. increased its stake in shares of SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after buying an additional 67 shares during the period. Allworth Financial LP raised its holdings in SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after purchasing an additional 45 shares in the last quarter. Finally, Quarry LP raised its stake in SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after buying an additional 132 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Performance

Shares of SBAC traded up $0.52 during midday trading on Monday, hitting $215.23. 237,507 shares of the company traded hands, compared to its average volume of 936,182. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The firm has a 50 day moving average of $197.54 and a 200-day moving average of $207.06. The stock has a market cap of $23.12 billion, a price-to-earnings ratio of 42.10, a PEG ratio of 0.69 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. The company had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. SBA Communications’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.13 earnings per share. Sell-side analysts predict that SBA Communications Co. will post 12.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Citigroup dropped their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Royal Bank of Canada decreased their price target on SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Barclays dropped their target price on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. TD Cowen cut their price target on SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Finally, StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $248.31.

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.