Summit Trail Advisors LLC Buys 2,352 Shares of SBA Communications Co. (NASDAQ:SBAC)

Summit Trail Advisors LLC lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 43.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,775 shares of the technology company’s stock after purchasing an additional 2,352 shares during the quarter. Summit Trail Advisors LLC’s holdings in SBA Communications were worth $1,585,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. lifted its holdings in shares of SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after purchasing an additional 1,174,469 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in SBA Communications by 377.6% in the third 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 in the last quarter. JPMorgan Chase & Co. increased its stake in SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. KBC Group NV increased its stake in SBA Communications by 212.3% in the fourth quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock valued at $83,562,000 after purchasing an additional 278,737 shares in the last quarter. Finally, Barclays PLC increased its stake in SBA Communications by 71.0% in the third quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock valued at $158,386,000 after purchasing an additional 273,237 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SBAC shares. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Raymond James boosted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. TD Cowen boosted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company decreased their target price 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. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $252.29.

SBA Communications Trading Up 0.2 %

Shares of SBAC opened at $206.31 on Tuesday. The firm has a market cap of $22.18 billion, a P/E ratio of 32.54, a price-to-earnings-growth ratio of 0.73 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 50-day moving average price is $204.93 and its 200 day moving average price is $221.22.

Insiders Place Their Bets

In other news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’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 completion of the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.