Handelsbanken Fonder AB Grows Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Handelsbanken Fonder AB increased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,433 shares of the technology company’s stock after buying an additional 2,025 shares during the period. Handelsbanken Fonder AB owned about 0.06% of SBA Communications worth $13,539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Creative Planning lifted its holdings in SBA Communications by 25.9% in the 3rd quarter. Creative Planning now owns 8,985 shares of the technology company’s stock valued at $2,163,000 after purchasing an additional 1,850 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in SBA Communications by 15.1% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,653 shares of the technology company’s stock worth $879,000 after purchasing an additional 480 shares in the last quarter. Eastern Bank acquired a new stake in SBA Communications during the 3rd quarter worth approximately $58,000. Greenleaf Trust increased its position in SBA Communications by 6.1% during the 3rd quarter. Greenleaf Trust now owns 1,359 shares of the technology company’s stock worth $327,000 after purchasing an additional 78 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in SBA Communications by 219,537.5% during the 3rd quarter. International Assets Investment Management LLC now owns 35,142 shares of the technology company’s stock worth $8,459,000 after purchasing an additional 35,126 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. TD Cowen increased their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Raymond James increased their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $251.29.

Insiders Place Their Bets

In other 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 transaction of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This trade represents a 31.71 % 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

SBA Communications stock opened at $213.00 on Friday. The company has a market cap of $22.90 billion, a PE ratio of 33.60, a P/E/G ratio of 0.74 and a beta of 0.69. The company has a fifty day moving average price of $202.62 and a two-hundred day moving average price of $220.37. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64.

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.