Spire Wealth Management Has $212,000 Holdings in SBA Communications Co. (NASDAQ:SBAC)

Spire Wealth Management cut its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 64.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,042 shares of the technology company’s stock after selling 1,912 shares during the period. Spire Wealth Management’s holdings in SBA Communications were worth $212,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in SBA Communications during the third quarter worth approximately $26,000. Evermay Wealth Management LLC bought a new position in shares of SBA Communications during the fourth quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new position in shares of SBA Communications during the third quarter worth approximately $35,000. Friedenthal Financial bought a new position in shares of SBA Communications during the third quarter worth approximately $50,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, 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 disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $205.82 on Friday. The firm has a market cap of $22.13 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 0.70 and a beta of 0.69. The firm’s fifty day moving average is $205.34 and its 200-day moving average is $221.03. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Wells Fargo & Company lowered their target price on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. TD Cowen raised their target price on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report 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. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.