SBA Communications Co. (NASDAQ:SBAC) Position Trimmed by National Bank of Canada FI

National Bank of Canada FI lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC – Get Rating) by 86.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,423 shares of the technology company’s stock after selling 83,961 shares during the period. National Bank of Canada FI’s holdings in SBA Communications were worth $4,619,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GHP Investment Advisors Inc. bought a new position in shares of SBA Communications during the first quarter worth about $25,000. Riverview Trust Co bought a new position in shares of SBA Communications during the first quarter worth about $26,000. Curi Wealth Management LLC bought a new position in shares of SBA Communications during the fourth quarter worth about $30,000. Benjamin F. Edwards & Company Inc. grew its position in shares of SBA Communications by 331.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 95 shares of the technology company’s stock worth $37,000 after acquiring an additional 73 shares during the last quarter. Finally, Capital Analysts LLC bought a new position in shares of SBA Communications during the fourth quarter worth about $40,000. Institutional investors own 95.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SBAC. Morgan Stanley lowered their price target on shares of SBA Communications from $389.00 to $361.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Raymond James upped their price target on shares of SBA Communications from $385.00 to $410.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 26th. The Goldman Sachs Group decreased their target price on shares of SBA Communications from $424.00 to $381.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. Moffett Nathanson lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and decreased their target price for the company from $393.00 to $380.00 in a research report on Monday, April 11th. Finally, Barclays increased their target price on shares of SBA Communications from $378.00 to $385.00 and gave the company an “overweight” rating in a research report on Tuesday, April 26th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $385.41.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, CEO Jeffrey Stoops sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $344.07, for a total transaction of $10,322,100.00. Following the completion of the sale, the chief executive officer now directly owns 83,668 shares of the company’s stock, valued at $28,787,648.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other SBA Communications news, CEO Jeffrey Stoops sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $344.07, for a total transaction of $10,322,100.00. Following the completion of the sale, the chief executive officer now directly owns 83,668 shares of the company’s stock, valued at $28,787,648.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark R. Ciarfella sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $338.05, for a total transaction of $338,050.00. Following the sale, the executive vice president now directly owns 23,884 shares of the company’s stock, valued at $8,073,986.20. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

SBA Communications Trading Up 1.6 %

Shares of NASDAQ SBAC opened at $338.17 on Wednesday. SBA Communications Co. has a twelve month low of $286.41 and a twelve month high of $391.15. The company has a market capitalization of $36.46 billion, a price-to-earnings ratio of 85.40 and a beta of 0.43. The firm has a 50-day moving average of $323.45 and a two-hundred day moving average of $328.21.

SBA Communications (NASDAQ:SBAC – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The technology company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). SBA Communications had a net margin of 18.40% and a negative return on equity of 8.54%. The firm had revenue of $652.01 million for the quarter, compared to analysts’ expectations of $626.30 million. During the same period in the prior year, the company posted $2.64 earnings per share. SBA Communications’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, research analysts predict that SBA Communications Co. will post 11.08 earnings per share for the current year.

SBA Communications Profile

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SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.