SBA Communications Co. (NASDAQ:SBAC) Stake Lessened by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,311 shares of the technology company’s stock after selling 3,900 shares during the period. New York State Common Retirement Fund owned 0.06% of SBA Communications worth $13,107,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its holdings in shares of SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after buying an additional 50 shares during the period. Farther Finance Advisors LLC lifted its holdings in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares during the last quarter. Versant Capital Management Inc lifted its holdings in SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after acquiring an additional 53 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of SBA Communications by 1.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after purchasing an additional 64 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of SBA Communications by 23.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company’s stock worth $82,000 after purchasing an additional 65 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Up 1.4 %

SBAC stock opened at $213.00 on Monday. The company has a 50 day moving average of $202.62 and a two-hundred day moving average of $220.41. The company has a market cap of $22.90 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 0.74 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

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

Insider Transactions at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. This 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 company insiders.

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.