Principal Securities Inc. Decreases Position in SBA Communications Co. (NASDAQ:SBAC)

Principal Securities Inc. trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 25.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,426 shares of the technology company’s stock after selling 482 shares during the period. Principal Securities Inc.’s holdings in SBA Communications were worth $291,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in SBA Communications during the third quarter worth $26,000. Evermay Wealth Management LLC acquired a new stake in shares of SBA Communications during the fourth quarter valued at $27,000. Capital Performance Advisors LLP acquired a new stake in shares of SBA Communications during the third quarter valued at $35,000. Farther Finance Advisors LLC increased its position in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares in the last quarter. Finally, Oakworth Capital Inc. raised its stake in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays cut their price objective on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. TD Cowen increased their target price on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, JMP Securities started coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average target price of $251.29.

SBA Communications Stock Performance

SBAC opened at $213.00 on Monday. The company has a market cap 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. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The firm has a 50 day moving average price of $202.62 and a 200 day moving average price of $220.41.

Insider Transactions at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the company’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 completion of the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald Day sold 2,321 shares of the 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 completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.