Americana Partners LLC Has $346,000 Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Americana Partners LLC boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 20.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,700 shares of the technology company’s stock after buying an additional 284 shares during the period. Americana Partners LLC’s holdings in SBA Communications were worth $346,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SBAC. Exchange Traded Concepts LLC acquired a new position in SBA Communications during the third quarter valued at $80,000. Creative Planning raised its position in SBA Communications by 25.9% during the third quarter. Creative Planning now owns 8,985 shares of the technology company’s stock valued at $2,163,000 after buying an additional 1,850 shares during the period. New Century Financial Group LLC acquired a new position in SBA Communications during the third quarter valued at $243,000. Allspring Global Investments Holdings LLC increased its position in SBA Communications by 16.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 136,054 shares of the technology company’s stock worth $32,748,000 after purchasing an additional 19,013 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in SBA Communications by 15.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,653 shares of the technology company’s stock worth $879,000 after purchasing an additional 480 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Up 0.5 %

Shares of NASDAQ:SBAC opened at $206.40 on Wednesday. The business has a 50 day moving average price of $203.15 and a 200 day moving average price of $220.76. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a market cap of $22.19 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 0.73 and a beta of 0.69.

Analysts Set New Price Targets

SBAC has been the topic of several research reports. JMP Securities initiated coverage on SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. TD Cowen upped their target price on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Raymond James upped their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company decreased their price target on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.29.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction that occurred 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 trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.