10,864 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by Edge Capital Group LLC

Edge Capital Group LLC purchased a new position in SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,864 shares of the technology company’s stock, valued at approximately $2,214,000.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in SBA Communications in the 3rd quarter worth about $26,000. Evermay Wealth Management LLC purchased a new position in SBA Communications in the 4th quarter worth about $27,000. Capital Performance Advisors LLP purchased a new position in SBA Communications in the 3rd quarter worth about $35,000. Oakworth Capital Inc. increased its stake in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in 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 purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SBAC. Raymond James lifted their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company reduced their price target on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Barclays reduced their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and a consensus price target of $251.29.

SBA Communications Stock Up 1.4 %

Shares of NASDAQ SBAC opened at $213.00 on Monday. The business’s 50 day moving average is $202.62 and its two-hundred day moving average is $220.41. The company 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. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64.

Insiders Place Their Bets

In other SBA Communications 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 value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $472,161.03. Following the sale, 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 ownership of the stock. 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.