Tobam increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 44.6% in the third quarter, Holdings Channel reports. The institutional investor owned 40,473 shares of the technology company’s stock after purchasing an additional 12,492 shares during the quarter. Tobam’s holdings in SBA Communications were worth $6,501,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. grew its holdings in SBA Communications by 19.7% during the second quarter. BlackRock Inc. now owns 9,531,887 shares of the technology company’s stock valued at $1,573,907,000 after purchasing an additional 1,565,872 shares during the period. Commonwealth Bank of Australia grew its holdings in SBA Communications by 330,152.8% during the third quarter. Commonwealth Bank of Australia now owns 531,707 shares of the technology company’s stock valued at $85,078,000 after purchasing an additional 531,546 shares during the period. Canada Pension Plan Investment Board grew its holdings in SBA Communications by 33.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,716,621 shares of the technology company’s stock valued at $283,448,000 after purchasing an additional 431,539 shares during the period. Meritage Group LP grew its holdings in SBA Communications by 33.6% during the second quarter. Meritage Group LP now owns 1,140,134 shares of the technology company’s stock valued at $188,259,000 after purchasing an additional 286,793 shares during the period. Finally, Eagle Asset Management Inc. grew its holdings in SBA Communications by 43.4% during the second quarter. Eagle Asset Management Inc. now owns 626,670 shares of the technology company’s stock valued at $103,475,000 after purchasing an additional 189,616 shares during the period. 93.98% of the stock is owned by institutional investors and hedge funds.

In related news, Director Brian C. Carr sold 249 shares of the stock in a transaction on Friday, November 9th. The shares were sold at an average price of $171.98, for a total transaction of $42,823.02. Following the completion of the transaction, the director now owns 2,821 shares in the company, valued at $485,155.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George R. Krouse, Jr. sold 416 shares of the 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 transaction, the director now owns 12,069 shares of the company’s stock, valued at approximately $2,072,850.75. The disclosure for this sale can be found here. Insiders sold 188,832 shares of company stock valued at $31,071,038 in the last quarter. Corporate insiders own 2.70% of the company’s stock.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of SBA Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 25th. BidaskClub cut shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Macquarie decreased their price objective on shares of SBA Communications from $166.00 to $161.00 and set a “neutral” rating for the company in a report on Wednesday, August 29th. ValuEngine cut shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Morgan Stanley decreased their price objective on shares of SBA Communications from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Thursday, August 16th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. SBA Communications has an average rating of “Buy” and a consensus target price of $179.80.

SBA Communications stock opened at $172.04 on Thursday. SBA Communications Co. has a twelve month low of $146.13 and a twelve month 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 Thomson Reuters’ consensus estimate of $1.78 by ($1.64). The company had revenue of $467.20 million during the quarter, compared to analyst estimates of $459.17 million. SBA Communications had a negative net margin of 0.11% and a negative return on equity of 0.65%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 EPS. On average, equities research analysts expect that SBA Communications Co. will post 7.14 EPS for the current fiscal year.

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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.

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

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