Chevy Chase Trust Holdings LLC Sells 1,245 Shares of SBA Communications Co. (NASDAQ:SBAC)

Chevy Chase Trust Holdings LLC trimmed its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,755 shares of the technology company's stock after selling 1,245 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of SBA Communications worth $11,567,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. V Square Quantitative Management LLC grew its holdings in shares of SBA Communications by 3.7% during the 4th quarter. V Square Quantitative Management LLC now owns 3,139 shares of the technology company's stock worth $640,000 after purchasing an additional 111 shares in the last quarter. Avestar Capital LLC acquired a new stake in SBA Communications during the fourth quarter worth $223,000. Van ECK Associates Corp increased its holdings in SBA Communications by 3.9% in the 4th quarter. Van ECK Associates Corp now owns 26,649 shares of the technology company's stock valued at $5,431,000 after buying an additional 1,005 shares during the period. Summit Trail Advisors LLC raised its stake in shares of SBA Communications by 43.4% in the 4th quarter. Summit Trail Advisors LLC now owns 7,775 shares of the technology company's stock valued at $1,585,000 after buying an additional 2,352 shares in the last quarter. Finally, Savant Capital LLC lifted its holdings in shares of SBA Communications by 37.9% during the 4th quarter. Savant Capital LLC now owns 10,724 shares of the technology company's stock worth $2,186,000 after acquiring an additional 2,950 shares during the period. Institutional investors own 97.35% of the company's stock.

Insider Buying and Selling

In related news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares of the company's stock, valued at $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. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Stock Performance

SBAC traded up $1.37 during midday trading on Wednesday, hitting $207.77. The company had a trading volume of 696,763 shares, compared to its average volume of 749,164. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The firm's 50-day simple moving average is $202.77 and its 200-day simple moving average is $220.50. The company has a market capitalization of $22.34 billion, a PE ratio of 32.77, a P/E/G ratio of 0.73 and a beta of 0.69.

Analysts Set New Price Targets

A number of research firms recently weighed in on SBAC. 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 research note on Thursday, January 23rd. Raymond James increased their target price on SBA Communications from $285.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 29th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They issued an "outperform" rating and a $250.00 price target on the stock. Finally, StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $252.29.

SBA Communications 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.