Chicago Partners Investment Group LLC Reduces Holdings in SBA Communications Co. (NASDAQ:SBAC)

Chicago Partners Investment Group LLC reduced its stake in SBA Communications Co. (NASDAQ:SBAC) by 16.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,383 shares of the technology company’s stock after selling 272 shares during the period. Chicago Partners Investment Group LLC’s holdings in SBA Communications were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after buying an additional 81,566 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after acquiring an additional 605,872 shares during the period. Charles Schwab Investment Management Inc. raised its stake in SBA Communications by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock worth $305,637,000 after acquiring an additional 62,555 shares during the last quarter. Victory Capital Management Inc. lifted its position in SBA Communications by 2,821.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after purchasing an additional 700,791 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Down 0.1 %

SBAC stock opened at $197.54 on Wednesday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The business’s 50-day moving average is $206.89 and its 200 day moving average is $221.35. The stock has a market cap of $21.24 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 0.70 and a beta of 0.69.

Insider Buying and Selling at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications 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 transaction, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction 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 transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SBAC. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Raymond James lifted their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays lowered their price target on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, JMP Securities began coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target for the company. Four equities 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. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

About SBA Communications

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.