Asset Management One Co. Ltd. Sells 194 Shares of SBA Communications Co. (NASDAQ:SBAC)

Asset Management One Co. Ltd. decreased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 41,050 shares of the technology company’s stock after selling 194 shares during the period. Asset Management One Co. Ltd.’s holdings in SBA Communications were worth $8,341,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avestar Capital LLC bought a new position in shares of SBA Communications in the fourth quarter valued at approximately $223,000. Van ECK Associates Corp boosted its position in shares of SBA Communications by 3.9% during the 4th quarter. Van ECK Associates Corp now owns 26,649 shares of the technology company’s stock valued at $5,431,000 after acquiring an additional 1,005 shares during the last quarter. Summit Trail Advisors LLC boosted its position in shares of SBA Communications by 43.4% during the 4th quarter. Summit Trail Advisors LLC now owns 7,775 shares of the technology company’s stock valued at $1,585,000 after acquiring an additional 2,352 shares during the last quarter. Savant Capital LLC boosted its position 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 valued at $2,186,000 after acquiring an additional 2,950 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in SBA Communications by 6.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,682 shares of the technology company’s stock valued at $343,000 after buying an additional 109 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 1.3 %

SBAC opened at $205.37 on Tuesday. The stock has a fifty day moving average of $203.51 and a 200-day moving average of $220.91. The firm has a market capitalization of $22.08 billion, a P/E ratio of 32.39, a PEG ratio of 0.73 and a beta of 0.69. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

Analysts Set New Price Targets

Several brokerages recently weighed in on SBAC. Barclays reduced their price target 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 reduced their price objective on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. JMP Securities began coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. Finally, TD Cowen upped their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average target price of $252.29.

Insider Activity

In related news, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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.