Evermay Wealth Management LLC Invests $27,000 in SBA Communications Co. (NASDAQ:SBAC)

Evermay Wealth Management LLC acquired a new stake in SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 132 shares of the technology company’s stock, valued at approximately $27,000.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in SBA Communications during the third quarter worth about $26,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications during the 3rd quarter worth approximately $35,000. Friedenthal Financial acquired a new stake in SBA Communications during the 3rd quarter worth approximately $50,000. Farther Finance Advisors LLC boosted its position in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares during the period. Finally, Eastern Bank acquired a new position in shares of SBA Communications in the third quarter worth $58,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SBAC shares. KeyCorp lifted their target price on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Raymond James boosted their price objective on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company reduced their price objective on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $252.29.

SBA Communications Stock Down 0.8 %

Shares of NASDAQ SBAC opened at $197.56 on Friday. The stock has a market cap of $21.24 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 0.70 and a beta of 0.69. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The business has a 50-day moving average price of $207.46 and a 200 day moving average price of $221.33.

Insider Activity

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were 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 of the company’s stock, 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 SEC, which is available at the SEC website. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Company 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.