The US Bancorp DE Buys 2,258 Shares of SBA Communications Co. (SBAC)

The US Bancorp DE Buys 2,258 Shares of SBA Communications Co. (SBAC)

Other large investors have also recently made changes to their positions in the company. Great West Life Assurance Co. Can boosted its stake in SBA Communications by 1.9% in the third quarter. Great West Life Assurance Co. Can now owns 86,732 shares of the technology company’s stock valued at $9,717,000 after buying an additional 1,656 shares in the last quarter. DnB Asset Management AS acquired a new position in shares of SBA Communications during the third quarter valued at about $1,124,000. Synovus Financial Corp acquired a new position in shares of SBA Communications during the third quarter valued at about $367,000. Manning & Napier Advisors LLC acquired a new position in shares of SBA Communications during the third quarter valued at about $5,505,000. Finally, Wells Fargo & Company MN raised its position in shares of SBA Communications by 36.2% in the third quarter. Wells Fargo & Company MN now owns 812,895 shares of the technology company’s stock valued at $91,175,000 after buying an additional 216,048 shares during the last quarter. 95.31% of the stock is owned by institutional investors and hedge funds.

US Bancorp DE boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 11.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,969 shares of the technology company’s stock after buying an additional 2,258 shares during the period. US Bancorp DE’s holdings in SBA Communications were worth $2,644,000 as of its most recent filing with the SEC.

Shares of SBA Communications Co. (SBAC) opened at 138.69 on Monday. The company has a market cap of $16.82 billion, a PE ratio of 287.74 and a beta of 0.72. SBA Communications Co. has a 12 month low of $95.66 and a 12 month high of $140.38. The company has a 50-day moving average of $130.02 and a 200 day moving average of $113.83.

A number of research firms have weighed in on SBAC. Zacks Investment Research lowered shares of SBA Communications from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 4th. Stifel Nicolaus set a $148.00 price target on shares of SBA Communications and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Goldman Sachs Group Inc lifted their price target on shares of SBA Communications from $121.00 to $131.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 2nd. Guggenheim upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $118.00 to $137.00 in a research note on Monday, April 10th. Finally, Jefferies Group LLC raised their price objective on shares of SBA Communications from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $133.93. In other news, Director Brian C. Carr sold 3,475 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $132.54, for a total value of $460,576.50. Following the completion of the sale, the director now owns 3,051 shares in the company, valued at $404,379.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kevin L. Beebe sold 570 shares of the stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $118.12, for a total value of $67,328.40. Following the completion of the sale, the director now owns 9,097 shares of the company’s stock, valued at approximately $1,074,537.64. The disclosure for this sale can be found here. Insiders sold 162,411 shares of company stock worth $21,764,557 over the last 90 days. Company insiders own 2.10% of the company’s stock.

SBA Communications Company Profile SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SBAC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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