SBA Communications (NASDAQ:SBAC) Price Target Raised to $225.00 at Wells Fargo & Company

SBA Communications (NASDAQ:SBAC) had its price target hoisted by stock analysts at Wells Fargo & Company from $210.00 to $225.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 2.85% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Raymond James upped their target price 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. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $253.07.

SBA Communications Stock Down 0.2 %

SBAC opened at $218.77 on Wednesday. SBA Communications has a 12 month low of $183.64 and a 12 month high of $252.64. The stock has a market cap of $23.52 billion, a P/E ratio of 34.51, a P/E/G ratio of 0.74 and a beta of 0.69. The company has a fifty day simple moving average of $202.83 and a 200 day simple moving average of $220.43.

Insider Activity

In related news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Institutional investors have recently added to or reduced their stakes in the stock. Oak Thistle LLC grew its position in SBA Communications by 76.1% during the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after acquiring an additional 2,863 shares during the last quarter. Czech National Bank boosted its stake in shares of SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after purchasing an additional 1,421 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in SBA Communications by 14,529.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock worth $60,495,000 after buying an additional 249,610 shares during the last quarter. First Hawaiian Bank lifted its holdings in SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after buying an additional 5,897 shares during the period. Finally, Bank of Montreal Can boosted its position in SBA Communications by 135.5% during the third quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after acquiring an additional 241,916 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.