Daiwa Securities Group Inc. raised its position in SBA Communications Corporation (NASDAQ:SBAC) by 42.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,350 shares of the technology company’s stock after buying an additional 1,600 shares during the period. Daiwa Securities Group Inc.’s holdings in SBA Communications Corporation were worth $722,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the company. BlackRock Inc. raised its stake in SBA Communications Corporation by 2,233.0% in the first quarter. BlackRock Inc. now owns 8,450,685 shares of the technology company’s stock worth $1,017,210,000 after buying an additional 8,088,459 shares during the last quarter. Iridian Asset Management LLC CT acquired a new stake in SBA Communications Corporation during the first quarter worth $169,022,000. Wells Fargo & Company MN raised its stake in SBA Communications Corporation by 68.8% in the first quarter. Wells Fargo & Company MN now owns 1,268,805 shares of the technology company’s stock worth $152,725,000 after buying an additional 516,954 shares during the last quarter. Clearbridge Investments LLC raised its stake in SBA Communications Corporation by 240.8% in the first quarter. Clearbridge Investments LLC now owns 700,037 shares of the technology company’s stock worth $84,263,000 after buying an additional 494,601 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in SBA Communications Corporation by 30.0% in the first quarter. American Century Companies Inc. now owns 1,578,092 shares of the technology company’s stock worth $189,955,000 after buying an additional 363,969 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Corporation (NASDAQ SBAC) opened at 138.27 on Friday. The firm has a market cap of $16.64 billion, a P/E ratio of 475.15 and a beta of 0.73. SBA Communications Corporation has a 52-week low of $95.66 and a 52-week high of $141.59. The company’s 50 day moving average is $136.32 and its 200-day moving average is $125.22.

SBA Communications Corporation (NASDAQ:SBAC) last issued its earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.01. The firm had revenue of $427.30 million during the quarter, compared to the consensus estimate of $426.10 million. SBA Communications Corporation had a negative return on equity of 2.64% and a net margin of 2.19%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 EPS. On average, equities analysts predict that SBA Communications Corporation will post $0.97 EPS for the current fiscal year.

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A number of equities research analysts have weighed in on SBAC shares. Deutsche Bank AG reissued a “hold” rating and set a $133.00 target price (up from $121.00) on shares of SBA Communications Corporation in a report on Saturday, April 22nd. Barclays PLC boosted their target price on shares of SBA Communications Corporation from $136.00 to $137.00 and gave the stock an “overweight” rating in a report on Wednesday, May 3rd. Cowen and Company boosted their target price on shares of SBA Communications Corporation from $131.00 to $141.00 and gave the stock an “outperform” rating in a report on Tuesday, May 2nd. Citigroup Inc. lowered shares of SBA Communications Corporation to an “outperform” rating and set a $153.00 target price on the stock. in a report on Monday, June 12th. Finally, Zacks Investment Research raised shares of SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 target price on the stock in a report on Thursday, July 20th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. SBA Communications Corporation has an average rating of “Buy” and an average target price of $141.57.

In related news, CEO Jeffrey Stoops sold 94,289 shares of SBA Communications Corporation stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $133.76, for a total value of $12,612,096.64. Following the sale, the chief executive officer now owns 329,124 shares in the company, valued at $44,023,626.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark R. Ciarfella sold 9,655 shares of SBA Communications Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $140.74, for a total transaction of $1,358,844.70. Following the completion of the sale, the executive vice president now owns 21,403 shares in the company, valued at approximately $3,012,258.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,179 shares of company stock worth $22,588,671. 2.10% of the stock is currently owned by company insiders.

SBA Communications Corporation 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.

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

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