SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Invesco LLC

Invesco LLC lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,771 shares of the technology company’s stock after selling 272 shares during the period. Invesco LLC’s holdings in SBA Communications were worth $565,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

SBAC has been the topic of a number of research analyst reports. TD Cowen lifted their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. JMP Securities began coverage on shares of SBA Communications in a research report on Monday. They issued an “outperform” rating and a $250.00 target price on the stock. KeyCorp boosted their price target on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company lowered their price objective 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. Finally, Barclays cut their target price 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. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $252.29.

Insider Buying and Selling

In related news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction that occurred 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 directly 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 document filed with the SEC, which is available through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’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 transaction of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was 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.

SBA Communications Price Performance

Shares of SBA Communications stock traded down $0.11 on Wednesday, reaching $201.56. 25,347 shares of the company were exchanged, compared to its average volume of 790,180. The stock’s 50 day moving average price is $208.75 and its 200-day moving average price is $221.74. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The company has a market cap of $21.67 billion, a P/E ratio of 31.80, a price-to-earnings-growth ratio of 0.70 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The firm had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.34 EPS. On average, research analysts predict that SBA Communications Co. will post 12.57 earnings per share for the current fiscal year.

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.