Commonwealth Bank of Australia grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 330,152.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 531,707 shares of the technology company’s stock after buying an additional 531,546 shares during the quarter. SBA Communications comprises 0.8% of Commonwealth Bank of Australia’s investment portfolio, making the stock its 28th biggest holding. Commonwealth Bank of Australia owned 0.46% of SBA Communications worth $85,078,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Employees Retirement System of Texas increased its stake in SBA Communications by 31.3% in the 2nd quarter. Employees Retirement System of Texas now owns 21,000 shares of the technology company’s stock valued at $3,468,000 after purchasing an additional 5,000 shares in the last quarter. Rampart Investment Management Company LLC increased its stake in SBA Communications by 167.9% in the 2nd quarter. Rampart Investment Management Company LLC now owns 13,970 shares of the technology company’s stock valued at $2,307,000 after purchasing an additional 8,756 shares in the last quarter. Neuburgh Advisers LLC increased its stake in SBA Communications by 9.7% in the 2nd quarter. Neuburgh Advisers LLC now owns 6,446 shares of the technology company’s stock valued at $1,064,000 after purchasing an additional 572 shares in the last quarter. Riverhead Capital Management LLC increased its stake in SBA Communications by 9.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 9,815 shares of the technology company’s stock valued at $1,621,000 after purchasing an additional 836 shares in the last quarter. Finally, DF Dent & Co. Inc. increased its stake in SBA Communications by 35.5% in the 2nd quarter. DF Dent & Co. Inc. now owns 203,874 shares of the technology company’s stock valued at $33,664,000 after purchasing an additional 53,456 shares in the last quarter. 93.98% of the stock is owned by institutional investors and hedge funds.

In other SBA Communications news, Director George R. Krouse, Jr. sold 416 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $171.75, for a total transaction of $71,448.00. Following the completion of the transaction, the director now owns 12,069 shares of the company’s stock, valued at $2,072,850.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Stoops sold 40,000 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $160.05, for a total value of $6,402,000.00. Following the transaction, the chief executive officer now directly owns 252,180 shares of the company’s stock, valued at approximately $40,361,409. The disclosure for this sale can be found here. Insiders have sold 188,832 shares of company stock valued at $31,071,038 in the last three months. 2.70% of the stock is currently owned by company insiders.

SBA Communications stock opened at $172.47 on Wednesday. SBA Communications Co. has a fifty-two week low of $146.13 and a fifty-two week high of $177.67.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, November 5th. The technology company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($1.64). The company had revenue of $467.20 million for the quarter, compared to analysts’ expectations of $459.17 million. SBA Communications had a negative return on equity of 0.65% and a negative net margin of 0.11%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.75 EPS. Analysts predict that SBA Communications Co. will post 7.14 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on SBAC shares. BidaskClub downgraded SBA Communications from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Citigroup raised their price objective on SBA Communications from $187.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, November 6th. Guggenheim set a $180.00 price objective on SBA Communications and gave the company a “buy” rating in a research note on Wednesday, October 17th. ValuEngine raised SBA Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Deutsche Bank raised their price target on SBA Communications from $170.00 to $183.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $179.80.

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SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By "Building Better Wireless," SBA generates revenue from two primary businesses – site leasing and site development services.

Further Reading: Discount Rate

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

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