Ieq Capital LLC Purchases 20,092 Shares of SBA Communications Co. (NASDAQ:SBAC)

Ieq Capital LLC increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 466.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,402 shares of the technology company’s stock after acquiring an additional 20,092 shares during the quarter. Ieq Capital LLC’s holdings in SBA Communications were worth $4,973,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Venturi Wealth Management LLC grew its position in SBA Communications by 118.9% during the 4th quarter. Venturi Wealth Management LLC now owns 742 shares of the technology company’s stock worth $151,000 after purchasing an additional 403 shares during the last quarter. CIBC Asset Management Inc grew its position in SBA Communications by 4.7% during the 4th quarter. CIBC Asset Management Inc now owns 16,408 shares of the technology company’s stock worth $3,344,000 after purchasing an additional 735 shares during the last quarter. Sanctuary Advisors LLC grew its position in SBA Communications by 31.7% during the 4th quarter. Sanctuary Advisors LLC now owns 7,471 shares of the technology company’s stock worth $1,488,000 after purchasing an additional 1,799 shares during the last quarter. Americana Partners LLC grew its position in SBA Communications by 20.1% during the 4th quarter. Americana Partners LLC now owns 1,700 shares of the technology company’s stock worth $346,000 after purchasing an additional 284 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in SBA Communications by 9.9% during the 4th quarter. New York State Teachers Retirement System now owns 111,643 shares of the technology company’s stock worth $22,753,000 after purchasing an additional 10,042 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $213.00 on Friday. The company’s fifty day moving average price is $202.62 and its 200 day moving average price is $220.37. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The company has a market capitalization of $22.90 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69.

Analyst Ratings Changes

SBAC has been the topic of several research analyst reports. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays dropped their price objective on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company dropped 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. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $251.29.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s 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 owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

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.