Wells Fargo & Company Increases SBA Communications (NASDAQ:SBAC) Price Target to $225.00

SBA Communications (NASDAQ:SBAC) had its price target increased by equities research analysts at Wells Fargo & Company from $210.00 to $225.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 2.85% from the company’s current price.

Several other brokerages have also recently issued reports on SBAC. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Barclays dropped their target price on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, JMP Securities started coverage on shares of SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $253.07.

SBA Communications Trading Down 0.2 %

NASDAQ SBAC opened at $218.77 on Wednesday. The company has a 50-day moving average price of $202.83 and a two-hundred day moving average price of $220.43. The stock has a market cap of $23.52 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. SBA Communications has a 52 week low of $183.64 and a 52 week high of $252.64.

Insiders Place Their Bets

In related news, EVP Donald Day sold 2,321 shares of the stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction that occurred 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 sale, the executive vice president now directly owns 33,588 shares in the company, valued at $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. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Advisors Network LLC lifted its holdings in shares of SBA Communications by 7.8% during the fourth quarter. Integrated Advisors Network LLC now owns 2,775 shares of the technology company’s stock valued at $566,000 after acquiring an additional 200 shares during the period. Toronto Dominion Bank increased its position in shares of SBA Communications by 6.7% during the 4th quarter. Toronto Dominion Bank now owns 68,763 shares of the technology company’s stock worth $14,014,000 after purchasing an additional 4,330 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in SBA Communications by 39.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,100,724 shares of the technology company’s stock valued at $224,328,000 after purchasing an additional 312,125 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in SBA Communications by 1.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 898,360 shares of the technology company’s stock valued at $183,086,000 after buying an additional 11,976 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in SBA Communications during the fourth quarter worth about $5,693,000. Institutional investors own 97.35% of the company’s stock.

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.