IFP Advisors Inc grew its stake in SBA Communications Co. (NASDAQ:SBAC) by 19.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 571 shares of the technology company’s stock after buying an additional 94 shares during the quarter. IFP Advisors Inc’s holdings in SBA Communications were worth $93,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of SBA Communications by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 18,461,664 shares of the technology company’s stock valued at $2,965,496,000 after buying an additional 380,936 shares during the period. Vanguard Group Inc raised its holdings in SBA Communications by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 18,461,664 shares of the technology company’s stock worth $2,965,496,000 after purchasing an additional 380,936 shares during the period. BlackRock Inc. raised its holdings in SBA Communications by 3.0% in the 3rd quarter. BlackRock Inc. now owns 9,814,117 shares of the technology company’s stock worth $1,576,444,000 after purchasing an additional 282,230 shares during the period. Franklin Resources Inc. raised its holdings in SBA Communications by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,070,429 shares of the technology company’s stock worth $332,543,000 after purchasing an additional 39,069 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in SBA Communications by 9.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,876,210 shares of the technology company’s stock worth $301,376,000 after purchasing an additional 159,589 shares during the period. 96.36% of the stock is owned by institutional investors and hedge funds.

NASDAQ:SBAC opened at $183.22 on Monday. SBA Communications Co. has a 12 month low of $146.13 and a 12 month high of $184.74.

A number of research firms recently weighed in on SBAC. BidaskClub raised SBA Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 15th. Zacks Investment Research raised SBA Communications from a “hold” rating to a “buy” rating and set a $192.00 price target for the company in a report on Thursday, November 15th. Bank of America set a $189.00 price target on SBA Communications and gave the stock a “buy” rating in a report on Thursday, November 15th. Citigroup upped their price target on SBA Communications from $187.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, November 6th. Finally, ValuEngine raised SBA Communications from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $181.22.

In other SBA Communications news, insider Brendan Thomas Cavanagh sold 147,717 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $172.16, for a total transaction of $25,430,958.72. Following the completion of the sale, the insider now directly owns 81,810 shares in the company, valued at approximately $14,084,409.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Duncan Cocroft sold 12,543 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $171.85, for a total value of $2,155,514.55. Following the sale, the director now owns 75,742 shares of the company’s stock, valued at $13,016,262.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 406,060 shares of company stock valued at $69,939,407. 2.70% of the stock is owned by company insiders.

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SBA Communications 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. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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

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