Tobam Buys 278 Shares of SBA Communications Co. (NASDAQ:SBAC)

Tobam increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 82.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 617 shares of the technology company’s stock after acquiring an additional 278 shares during the quarter. Tobam’s holdings in SBA Communications were worth $126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Oak Thistle LLC boosted its position in SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after buying an additional 2,863 shares during the last quarter. Czech National Bank lifted its stake in shares of SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after acquiring an additional 1,421 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in SBA Communications by 14,529.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock valued at $60,495,000 after acquiring an additional 249,610 shares during the last quarter. First Hawaiian Bank increased its position in SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after purchasing an additional 5,897 shares during the period. Finally, Bank of Montreal Can raised its holdings in SBA Communications by 135.5% during the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock worth $100,351,000 after purchasing an additional 241,916 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBAC. JMP Securities initiated 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. Raymond James lifted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. TD Cowen upped their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Barclays reduced their price target on SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, KeyCorp upped their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Four 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $252.29.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction on Friday, December 20th. The shares were 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 directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

SBA Communications Stock Performance

NASDAQ SBAC opened at $205.82 on Friday. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The business has a 50 day simple moving average of $205.34 and a 200 day simple moving average of $221.03. The stock has a market cap of $22.13 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 0.70 and a beta of 0.69.

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.