SBA Communications Co. (NASDAQ:SBAC) Holdings Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,672 shares of the technology company's stock after selling 4,382 shares during the period. Allspring Global Investments Holdings LLC owned about 0.12% of SBA Communications worth $26,388,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company's stock valued at $1,117,697,000 after buying an additional 81,566 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after acquiring 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 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company's stock valued at $305,637,000 after acquiring an additional 62,555 shares in the last quarter. Victory Capital Management Inc. lifted its stake in SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company's stock worth $292,714,000 after purchasing an additional 1,174,469 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 worth $213,353,000 after purchasing an additional 700,791 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of research reports. JMP Securities began coverage on shares of SBA Communications in a report on Monday, January 27th. They set an "outperform" rating and a $250.00 target price on the stock. Raymond James raised their price target on SBA Communications from $285.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 29th. Barclays reduced their price objective on SBA Communications from $257.00 to $254.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on SBA Communications from $230.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. Finally, Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $252.29.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value 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 represents a 31.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares of the company's stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Price Performance

Shares of NASDAQ SBAC traded up $1.42 during mid-day trading on Wednesday, reaching $207.82. 333,242 shares of the company traded hands, compared to its average volume of 735,277. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The firm has a market cap of $22.34 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 0.73 and a beta of 0.69. The stock has a fifty day simple moving average of $202.93 and a 200-day simple moving average of $220.59.

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.