Vanderbilt University Invests $858,000 in SBA Communications Co. (NASDAQ:SBAC)

Vanderbilt University bought a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, Holdings Channel.com reports. The firm bought 4,208 shares of the technology company’s stock, valued at approximately $858,000.

Several other large investors also recently added to or reduced their stakes in SBAC. Choreo LLC boosted its stake in shares of SBA Communications by 40.8% during the 4th quarter. Choreo LLC now owns 6,476 shares of the technology company’s stock worth $1,317,000 after acquiring an additional 1,875 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in SBA Communications by 21.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,013 shares of the technology company’s stock worth $2,645,000 after purchasing an additional 2,289 shares during the period. Retirement Systems of Alabama lifted its position in SBA Communications by 0.5% during the fourth quarter. Retirement Systems of Alabama now owns 85,433 shares of the technology company’s stock valued at $17,411,000 after purchasing an additional 407 shares in the last quarter. E. Ohman J or Asset Management AB grew its holdings in SBA Communications by 14.4% during the fourth quarter. E. Ohman J or Asset Management AB now owns 5,150 shares of the technology company’s stock valued at $1,050,000 after purchasing an additional 650 shares during the period. Finally, abrdn plc increased its position in SBA Communications by 34.8% in the fourth quarter. abrdn plc now owns 144,611 shares of the technology company’s stock worth $29,490,000 after buying an additional 37,308 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Insider Activity

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications 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 directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SBAC. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. JMP Securities initiated coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Raymond James upped their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average target price of $252.29.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $203.48 on Thursday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The business’s 50 day moving average is $206.31 and its two-hundred day moving average is $221.27. The stock has a market capitalization of $21.88 billion, a P/E ratio of 32.09, a PEG ratio of 0.70 and a beta of 0.69.

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.