Westfield Capital Management Co. LP purchased a new stake in SBA Communications Corporation (NASDAQ:SBAC) during the second quarter, according to its most recent filing with the SEC. The fund purchased 399,951 shares of the technology company’s stock, valued at approximately $53,953,000. Westfield Capital Management Co. LP owned about 0.33% of SBA Communications Corporation as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Xact Kapitalforvaltning AB bought a new stake in shares of SBA Communications Corporation in the 2nd quarter worth about $3,137,000. Atlantic Trust Group LLC increased its holdings in shares of SBA Communications Corporation by 7.7% in the 2nd quarter. Atlantic Trust Group LLC now owns 134,404 shares of the technology company’s stock worth $18,131,000 after buying an additional 9,661 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of SBA Communications Corporation by 160.5% in the 2nd quarter. SG Americas Securities LLC now owns 12,629 shares of the technology company’s stock worth $1,704,000 after buying an additional 7,781 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of SBA Communications Corporation by 8.7% in the 2nd quarter. William Blair Investment Management LLC now owns 2,682,091 shares of the technology company’s stock worth $361,814,000 after buying an additional 215,709 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of SBA Communications Corporation in the 1st quarter worth about $2,250,000. Institutional investors own 92.37% of the company’s stock.

A number of analysts have recently weighed in on SBAC shares. BidaskClub upgraded shares of SBA Communications Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. Deutsche Bank AG restated a “hold” rating and issued a $150.00 target price (up from $133.00) on shares of SBA Communications Corporation in a report on Friday, July 14th. Jefferies Group LLC boosted their target price on shares of SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Morgan Stanley restated an “overweight” rating and issued a $159.00 target price (up from $147.00) on shares of SBA Communications Corporation in a report on Thursday, August 24th. Finally, Zacks Investment Research downgraded shares of SBA Communications Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $145.62.

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SBA Communications Corporation (NASDAQ:SBAC) traded up 0.82% during midday trading on Friday, reaching $149.99. 1,898,902 shares of the company’s stock traded hands. SBA Communications Corporation has a 1-year low of $95.66 and a 1-year high of $154.71. The company has a market capitalization of $18.05 billion, a price-to-earnings ratio of 515.43 and a beta of 0.71. The firm’s 50-day moving average is $145.17 and its 200-day moving average is $132.26.

SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.64%. The company had revenue of $427.30 million for the quarter, compared to analyst estimates of $426.10 million. During the same quarter in the prior year, the business earned $1.48 earnings per share. SBA Communications Corporation’s revenue was up 5.4% on a year-over-year basis. Analysts forecast that SBA Communications Corporation will post $0.94 earnings per share for the current year.

In other SBA Communications Corporation news, EVP Mark R. Ciarfella sold 9,655 shares of SBA Communications Corporation stock in a transaction dated 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 directly owns 21,403 shares in the company, valued at $3,012,258.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Brian D. Lazarus sold 7,376 shares of SBA Communications Corporation stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the sale, the senior vice president now owns 17,525 shares of the company’s stock, valued at $2,660,119.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,674 shares of company stock valued at $2,706,217. Company insiders own 2.10% of the company’s stock.

About SBA Communications Corporation

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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