Spire Wealth Management Has $34,000 Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Spire Wealth Management cut its position in SBA Communications Co. (NASDAQ:SBACFree Report) by 37.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 171 shares of the technology company’s stock after selling 104 shares during the quarter. Spire Wealth Management’s holdings in SBA Communications were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SBAC. Norges Bank bought a new position in shares of SBA Communications during the fourth quarter worth about $310,556,000. Brown Advisory Inc. raised its position in shares of SBA Communications by 43.0% during the second quarter. Brown Advisory Inc. now owns 2,108,540 shares of the technology company’s stock worth $488,675,000 after acquiring an additional 634,135 shares during the last quarter. Millennium Management LLC raised its position in shares of SBA Communications by 294.4% during the fourth quarter. Millennium Management LLC now owns 797,089 shares of the technology company’s stock worth $223,432,000 after acquiring an additional 594,994 shares during the last quarter. Bristol John W & Co. Inc. NY bought a new position in shares of SBA Communications during the third quarter worth about $92,725,000. Finally, JPMorgan Chase & Co. raised its position in shares of SBA Communications by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 2,537,428 shares of the technology company’s stock worth $662,447,000 after acquiring an additional 348,105 shares during the last quarter. 92.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of analyst reports. BMO Capital Markets upgraded SBA Communications from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $245.00 to $285.00 in a research report on Friday, December 15th. KeyCorp raised their price objective on SBA Communications from $251.00 to $276.00 and gave the company an “overweight” rating in a research note on Wednesday, December 6th. Morgan Stanley reduced their price objective on SBA Communications from $311.00 to $227.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Barclays raised their price objective on SBA Communications from $251.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company reduced their price objective on SBA Communications from $270.00 to $245.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $279.31.

Get Our Latest Stock Analysis on SBAC

Insider Buying and Selling

In related news, CAO Brian D. Lazarus sold 20,605 shares of SBA Communications stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $249.35, for a total transaction of $5,137,856.75. Following the sale, the chief accounting officer now directly owns 7,085 shares in the company, valued at $1,766,644.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Brian D. Lazarus sold 20,605 shares of SBA Communications stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $249.35, for a total transaction of $5,137,856.75. Following the sale, the chief accounting officer now directly owns 7,085 shares in the company, valued at $1,766,644.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jason V. Silberstein sold 16,465 shares of SBA Communications stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $255.44, for a total value of $4,205,819.60. Following the sale, the executive vice president now owns 29,908 shares in the company, valued at $7,639,699.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,589 shares of company stock worth $42,239,600. 1.60% of the stock is owned by company insiders.

SBA Communications Stock Down 0.8 %

Shares of NASDAQ:SBAC opened at $215.65 on Tuesday. The stock has a market cap of $23.27 billion, a price-to-earnings ratio of 47.50, a PEG ratio of 1.06 and a beta of 0.58. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $294.28. The business’s 50 day moving average is $239.38 and its 200 day moving average is $224.66.

SBA Communications Profile

(Free Report)

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 in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.

See Also

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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