SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Lederer & Associates Investment Counsel CA

Lederer & Associates Investment Counsel CA lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 946 shares of the technology company’s stock after selling 52 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in SBA Communications were worth $193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SBAC. Victory Capital Management Inc. increased its holdings in SBA Communications by 2,821.5% in the third 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $213,353,000 after purchasing an additional 700,791 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SBA Communications by 16.6% during 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 acquiring an additional 605,872 shares in the last quarter. KBC Group NV lifted its holdings in shares of SBA Communications by 212.3% during the 4th quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock valued at $83,562,000 after acquiring an additional 278,737 shares in the last quarter. Finally, Barclays PLC increased its stake in SBA Communications by 71.0% during the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock worth $158,386,000 after buying an additional 273,237 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of SBA Communications 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 transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SBAC shares. KeyCorp boosted their target price on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. JMP Securities started coverage on shares of SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. Barclays dropped their target price on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company dropped their price objective on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $252.29.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $197.56 on Monday. The company has a 50-day moving average of $207.46 and a 200-day moving average of $221.44. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 0.70 and a beta of 0.69. SBA Communications Co. has a 52 week low of $183.64 and a 52 week 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.