Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in SBA Communications Co. (NASDAQ:SBAC)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in SBA Communications Co. (NASDAQ:SBAC) by 2.3% during the fourth quarter, HoldingsChannel reports. The fund owned 12,531 shares of the technology company’s stock after buying an additional 285 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in SBA Communications were worth $2,554,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Oak Thistle LLC increased its holdings in SBA Communications by 76.1% during the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after acquiring an additional 2,863 shares during the period. Czech National Bank increased its position in shares of SBA Communications by 6.5% in the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after purchasing an additional 1,421 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of SBA Communications by 14,529.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock valued at $60,495,000 after buying an additional 249,610 shares in the last quarter. First Hawaiian Bank raised its position in SBA Communications by 91.0% during the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after purchasing an additional 5,897 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of SBA Communications by 135.5% during the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after purchasing an additional 241,916 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction 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 trade represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s 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 transaction, the executive vice president now directly 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. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC opened at $206.31 on Tuesday. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The business has a fifty day moving average of $204.93 and a 200 day moving average of $221.22. The firm has a market capitalization of $22.18 billion, a P/E ratio of 32.54, a PEG ratio of 0.73 and a beta of 0.69.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SBAC shares. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays decreased their target price on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. KeyCorp increased their price target on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. JMP Securities started coverage on SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective on the stock. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company 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.