Caprock Group LLC Purchases Shares of 1,130 SBA Communications Co. (NASDAQ:SBAC)

Caprock Group LLC bought a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,130 shares of the technology company’s stock, valued at approximately $230,000.

Several other large investors also recently modified their holdings of the stock. State Street Corp increased its position in shares of SBA Communications by 1.8% during the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after purchasing an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. raised its position in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SBA Communications by 5.2% during the third 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 valued at $292,714,000 after purchasing an additional 1,174,469 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in SBA Communications by 377.6% in the third 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 buying an additional 700,791 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on SBAC. Raymond James increased their target price on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. JMP Securities assumed coverage on SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $252.29.

SBA Communications Trading Up 0.7 %

SBAC opened at $205.00 on Friday. The stock’s fifty day simple moving average is $205.81 and its 200 day simple moving average is $221.14. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The stock has a market cap of $22.04 billion, a PE ratio of 32.33, a price-to-earnings-growth 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 the 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 sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Donald Day sold 2,321 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.