Raymond James Financial Services Advisors Inc. increased its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,032 shares of the technology company’s stock after acquiring an additional 2,217 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in SBA Communications Corporation were worth $4,861,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SBAC. D.A. Davidson & CO. raised its stake in SBA Communications Corporation by 18.8% during the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after acquiring an additional 120 shares in the last quarter. Creative Planning raised its stake in SBA Communications Corporation by 40.7% during the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after acquiring an additional 253 shares in the last quarter. Van ECK Associates Corp raised its stake in SBA Communications Corporation by 17.0% during the 1st quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock worth $146,000 after acquiring an additional 177 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in SBA Communications Corporation during the 2nd quarter worth $159,000. Finally, Advisor Group Inc. raised its stake in SBA Communications Corporation by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

Shares of SBA Communications Corporation (NASDAQ SBAC) traded down 0.48% on Friday, reaching $151.49. 139,403 shares of the company’s stock traded hands. SBA Communications Corporation has a 52 week low of $95.66 and a 52 week high of $154.71. The stock has a market capitalization of $18.23 billion, a PE ratio of 520.58 and a beta of 0.69. The company has a 50 day moving average of $148.10 and a 200-day moving average of $136.27.

SBA Communications Corporation (NASDAQ:SBAC) last issued its earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). The business had revenue of $427.30 million for the quarter, compared to analyst estimates 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 period last year, the company posted $1.48 earnings per share. Equities research analysts forecast that SBA Communications Corporation will post $0.94 earnings per share for the current year.

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In other news, EVP Mark R. Ciarfella sold 9,655 shares of the company’s 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 transaction, the executive vice president now owns 21,403 shares in the company, valued at $3,012,258.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian D. Lazarus sold 7,376 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the transaction, the senior vice president now owns 17,525 shares of the company’s stock, valued at approximately $2,660,119.75. The disclosure for this sale can be found here. Insiders have sold 18,674 shares of company stock worth $2,706,217 over the last three months. 2.10% of the stock is owned by corporate insiders.

Several equities research analysts recently commented on SBAC shares. KeyCorp upgraded shares of SBA Communications Corporation from a “sector weight” rating to an “overweight” rating and set a $170.00 price target on the stock in a research note on Wednesday, September 27th. BidaskClub upgraded shares of SBA Communications Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. Deutsche Bank AG reiterated a “hold” rating and set a $150.00 price target (up from $133.00) on shares of SBA Communications Corporation in a research note on Friday, July 14th. Jefferies Group LLC lifted their price target on shares of SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $159.00 price target (up from $147.00) on shares of SBA Communications Corporation in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. SBA Communications Corporation has an average rating of “Buy” and a consensus target price of $147.36.

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.

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

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