Forsta AP Fonden Buys 5,900 Shares of SBA Communications Co. (NASDAQ:SBAC)

Forsta AP Fonden raised its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 22.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,700 shares of the technology company's stock after acquiring an additional 5,900 shares during the quarter. Forsta AP Fonden's holdings in SBA Communications were worth $7,871,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of SBA Communications by 10.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company's stock valued at $127,000 after acquiring an additional 51 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of SBA Communications by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company's stock valued at $1,819,000 after buying an additional 53 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of SBA Communications by 4.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company's stock valued at $286,000 after buying an additional 57 shares during the last quarter. Industrial Alliance Investment Management Inc. raised its holdings in shares of SBA Communications by 3.9% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company's stock valued at $338,000 after buying an additional 58 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its holdings in shares of SBA Communications by 11.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company's stock valued at $134,000 after buying an additional 58 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wells Fargo & Company lifted their price target on SBA Communications from $220.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. StockNews.com upgraded SBA Communications from a "hold" rating to a "buy" rating in a research report on Friday, September 20th. JPMorgan Chase & Co. lifted their price objective on SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Finally, Barclays lifted their price objective on SBA Communications from $236.00 to $256.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $251.58.

Insider Transactions at SBA Communications

In related news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares in the company, valued at approximately $24,328,521.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,590 shares of company stock worth $11,483,981 in the last 90 days. Corporate insiders own 1.30% of the company's stock.

SBA Communications Stock Performance

NASDAQ SBAC traded down $1.85 during trading on Monday, hitting $239.94. The stock had a trading volume of 1,324,248 shares, compared to its average volume of 916,293. The company has a market capitalization of $25.79 billion, a PE ratio of 50.62, a P/E/G ratio of 0.73 and a beta of 0.67. The company's 50-day moving average price is $237.27 and its two-hundred day moving average price is $213.83. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. During the same quarter in the prior year, the company earned $3.24 EPS. The company's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities analysts anticipate that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

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.