Allspring Global Investments Holdings LLC Has $26.39 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Allspring Global Investments Holdings LLC lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,672 shares of the technology company’s stock after selling 4,382 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SBA Communications were worth $26,388,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SBAC. Summit Trail Advisors LLC increased its holdings in shares of SBA Communications by 43.4% during the 4th quarter. Summit Trail Advisors LLC now owns 7,775 shares of the technology company’s stock worth $1,585,000 after purchasing an additional 2,352 shares during the period. Savant Capital LLC increased its stake in SBA Communications by 37.9% during the fourth quarter. Savant Capital LLC now owns 10,724 shares of the technology company’s stock valued at $2,186,000 after acquiring an additional 2,950 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in SBA Communications by 6.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,682 shares of the technology company’s stock valued at $343,000 after acquiring an additional 109 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in SBA Communications in the 4th quarter valued at approximately $514,000. Finally, Tobam grew its holdings in shares of SBA Communications by 82.0% during the 4th quarter. Tobam now owns 617 shares of the technology company’s stock worth $126,000 after purchasing an additional 278 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of recent research reports. BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities started coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. Barclays cut their price target on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, TD Cowen upped their price objective on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Four 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.29.

Insiders Place Their Bets

In other news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications Trading Down 1.3 %

Shares of SBAC stock opened at $205.37 on Friday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The firm’s 50 day moving average is $203.51 and its 200-day moving average is $220.88. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 0.73 and a beta of 0.69.

SBA Communications Company 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.