SBA Communications Corporation $SBAC Shares Sold by Jackson Square Partners LLC

Jackson Square Partners LLC trimmed its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 11.2% during the third quarter, HoldingsChannel reports. The firm owned 35,850 shares of the technology company’s stock after selling 4,503 shares during the period. SBA Communications comprises about 2.8% of Jackson Square Partners LLC’s investment portfolio, making the stock its 10th biggest holding. Jackson Square Partners LLC’s holdings in SBA Communications were worth $6,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in SBA Communications by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after buying an additional 46 shares in the last quarter. MAI Capital Management increased its stake in shares of SBA Communications by 7.9% in the 2nd quarter. MAI Capital Management now owns 680 shares of the technology company’s stock worth $160,000 after acquiring an additional 50 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of SBA Communications by 12.5% during the 2nd quarter. Penserra Capital Management LLC now owns 587 shares of the technology company’s stock worth $137,000 after acquiring an additional 65 shares during the period. CVA Family Office LLC boosted its position in shares of SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after acquiring an additional 67 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in SBA Communications by 4.6% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 1,532 shares of the technology company’s stock valued at $360,000 after purchasing an additional 68 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a report on Monday, January 12th. UBS Group reduced their target price on SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. BMO Capital Markets decreased their price target on SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Scotiabank cut their price objective on SBA Communications from $252.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. Finally, Citigroup decreased their target price on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.18.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $180.74 on Friday. The stock has a market capitalization of $19.26 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87. The business has a 50-day moving average of $188.56 and a 200 day moving average of $198.17. SBA Communications Corporation has a 12 month low of $177.49 and a 12 month high of $245.16.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.