Modera Wealth Management LLC Buys Shares of 3,674 SBA Communications Co. (NASDAQ:SBAC)

Modera Wealth Management LLC purchased a new position in SBA Communications Co. (NASDAQ:SBAC) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,674 shares of the technology company’s stock, valued at approximately $884,000.

A number of other institutional investors also recently made changes to their positions in SBAC. Wealth Enhancement Advisory Services LLC raised its stake in shares of SBA Communications by 6.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,722 shares of the technology company’s stock worth $807,000 after buying an additional 237 shares in the last quarter. Cullinan Associates Inc. bought a new stake in SBA Communications in the first quarter worth about $217,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in SBA Communications by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 229,677 shares of the technology company’s stock valued at $49,771,000 after acquiring an additional 3,758 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in SBA Communications by 0.3% in the 1st quarter. State of Alaska Department of Revenue now owns 62,987 shares of the technology company’s stock valued at $13,647,000 after acquiring an additional 201 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in shares of SBA Communications by 5.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 1,913 shares of the technology company’s stock valued at $415,000 after purchasing an additional 93 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Performance

SBAC stock opened at $239.94 on Tuesday. The firm has a 50 day simple moving average of $237.27 and a 200 day simple moving average of $213.83. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a market cap of $25.79 billion, a P/E ratio of 50.62, a P/E/G ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. During the same period last year, the business earned $3.24 EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts predict that SBA Communications Co. will post 12.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group lifted their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Barclays upped their target price on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.58.

Insider Buying and Selling

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now owns 8,084 shares in the company, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,590 shares of company stock worth $11,483,981. Corporate insiders own 1.30% of the company’s stock.

About SBA Communications

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.