SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 118.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 742 shares of the technology company’s stock after purchasing an additional 403 shares during the quarter. Venturi Wealth Management LLC’s holdings in SBA Communications were worth $151,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications in the 3rd quarter worth approximately $26,000. Evermay Wealth Management LLC acquired a new position in shares of SBA Communications in the 4th quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications in the 3rd quarter worth approximately $35,000. Farther Finance Advisors LLC grew its position in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after acquiring an additional 53 shares in the last quarter. Finally, Oakworth Capital Inc. grew its position in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after acquiring an additional 144 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Activity

In other news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Raymond James raised their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday. JMP Securities assumed coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Finally, Barclays cut their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus target price of $251.29.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $213.00 on Friday. The business’s fifty day moving average price is $202.62 and its two-hundred day moving average price is $220.37. The company has a market capitalization of $22.90 billion, a P/E ratio of 33.60, a PEG ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.