SBA Communications Co. (NASDAQ:SBAC) Shares Sold by ING Groep NV

ING Groep NV lessened its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,733 shares of the technology company’s stock after selling 640 shares during the quarter. ING Groep NV’s holdings in SBA Communications were worth $2,799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBAC. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications during the third quarter worth about $26,000. Evermay Wealth Management LLC acquired a new position in shares of SBA Communications during the fourth quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications during the third quarter worth approximately $35,000. Oakworth Capital Inc. boosted its position in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after buying an additional 144 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $213.00 on Friday. The stock has a market cap of $22.90 billion, a P/E ratio of 33.60, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The firm has a 50 day moving average price of $202.62 and a two-hundred day moving average price of $220.37.

Insiders Place Their Bets

In related news, EVP Donald Day sold 2,321 shares of the business’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 transaction 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 approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business’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 completion of the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the topic of several research reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Raymond James upped their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. JMP Securities started coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. Finally, Wells Fargo & Company decreased their price target on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $251.29.

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.