Ieq Capital LLC Raises Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Ieq Capital LLC grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 466.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,402 shares of the technology company’s stock after buying an additional 20,092 shares during the period. Ieq Capital LLC’s holdings in SBA Communications were worth $4,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Exchange Traded Concepts LLC grew its stake in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after buying an additional 50 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after buying an additional 53 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of SBA Communications by 1.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock worth $1,086,000 after buying an additional 64 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of SBA Communications by 23.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company’s stock worth $82,000 after buying an additional 65 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $213.00 on Friday. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The firm has a market cap of $22.90 billion, a P/E ratio of 33.60, a P/E/G ratio of 0.74 and a beta of 0.69. The firm has a 50-day simple moving average of $202.62 and a 200-day simple moving average of $220.37.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday. Raymond James lifted 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. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. JMP Securities assumed coverage on shares of SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price target for the company. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $251.29.

Insider Activity

In other news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now 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. Company insiders own 1.30% of the company’s stock.

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.