Bp Plc increased its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 53.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,000 shares of the technology company’s stock after buying an additional 8,000 shares during the period. Bp Plc’s holdings in SBA Communications Corporation were worth $3,102,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new position in SBA Communications Corporation during the fourth quarter valued at approximately $822,000. Teachers Advisors LLC boosted its position in SBA Communications Corporation by 7.6% in the fourth quarter. Teachers Advisors LLC now owns 127,390 shares of the technology company’s stock valued at $13,154,000 after buying an additional 8,986 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in SBA Communications Corporation by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 39,470 shares of the technology company’s stock valued at $4,751,000 after buying an additional 400 shares during the last quarter. CrestPoint Capital Management LLC boosted its position in SBA Communications Corporation by 27.8% in the first quarter. CrestPoint Capital Management LLC now owns 4,600 shares of the technology company’s stock valued at $554,000 after buying an additional 1,000 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its position in SBA Communications Corporation by 26.0% in the first quarter. Capstone Asset Management Co. now owns 2,861 shares of the technology company’s stock valued at $344,000 after buying an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Shares of SBA Communications Corporation (NASDAQ SBAC) opened at 139.03 on Thursday. SBA Communications Corporation has a one year low of $95.66 and a one year high of $141.59. The company has a market cap of $16.82 billion, a price-to-earnings ratio of 477.77 and a beta of 0.73. The firm has a 50-day moving average of $135.89 and a 200 day moving average of $124.88.

SBA Communications Corporation (NASDAQ:SBAC) last posted its earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.01. SBA Communications Corporation had a negative return on equity of 2.64% and a net margin of 2.19%. The firm had revenue of $427.30 million for the quarter, compared to analyst estimates of $426.10 million. During the same period in the prior year, the business posted $1.48 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that SBA Communications Corporation will post $0.98 EPS for the current year.

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Several equities analysts recently commented on SBAC shares. Barclays PLC upped their target price on shares of SBA Communications Corporation from $118.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. Deutsche Bank AG reiterated a “hold” rating and set a $133.00 target price (up from $121.00) on shares of SBA Communications Corporation in a research note on Saturday, April 22nd. Citigroup Inc. upped their target price on shares of SBA Communications Corporation from $124.00 to $134.00 and gave the company a “neutral” rating in a research note on Tuesday, April 25th. Stifel Nicolaus set a $148.00 target price on shares of SBA Communications Corporation and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Finally, Goldman Sachs Group, Inc. (The) upped their target price on shares of SBA Communications Corporation from $121.00 to $131.00 and gave the company a “neutral” rating in a research note on Tuesday, May 2nd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $141.57.

In related news, CEO Jeffrey Stoops sold 94,289 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $133.76, for a total value of $12,612,096.64. Following the completion of the transaction, the chief executive officer now owns 329,124 shares of the company’s stock, valued at $44,023,626.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George R. Krouse, Jr. sold 1,643 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $138.63, for a total value of $227,769.09. Following the completion of the transaction, the director now directly owns 11,643 shares of the company’s stock, valued at approximately $1,614,069.09. The disclosure for this sale can be found here. Insiders have sold 167,179 shares of company stock valued at $22,588,671 in the last three months. Insiders own 2.10% of the company’s stock.

SBA Communications Corporation Company Profile

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

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Institutional Ownership by Quarter for SBA Communications Corporation (NASDAQ:SBAC)

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