ETRADE Capital Management LLC acquired a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,663 shares of the technology company’s stock, valued at approximately $1,034,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBAC. D.A. Davidson & CO. increased its holdings in shares of SBA Communications Corporation by 18.8% during the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock valued at $102,000 after acquiring an additional 120 shares in the last quarter. Creative Planning increased its holdings in shares of SBA Communications Corporation by 40.7% during the second quarter. Creative Planning now owns 874 shares of the technology company’s stock valued at $118,000 after acquiring an additional 253 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of SBA Communications Corporation by 17.0% during the first quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock valued at $146,000 after acquiring an additional 177 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of SBA Communications Corporation during the second quarter valued at approximately $159,000. Finally, 1ST Source Bank bought a new stake in shares of SBA Communications Corporation during the second quarter valued at approximately $201,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.

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In related news, EVP Mark R. Ciarfella sold 9,655 shares of SBA Communications Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $140.74, for a total transaction of $1,358,844.70. Following the transaction, the executive vice president now directly owns 21,403 shares in the company, valued at $3,012,258.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brian D. Lazarus sold 7,376 shares of SBA Communications Corporation stock in a transaction on Friday, August 25th. The shares were sold at an average price of $151.79, for a total value of $1,119,603.04. Following the transaction, the senior vice president now owns 17,525 shares in the company, valued at $2,660,119.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,674 shares of company stock worth $2,706,217. Company insiders own 2.10% of the company’s stock.

SBA Communications Corporation (NASDAQ:SBAC) opened at 142.62 on Friday. The stock’s 50 day moving average price is $145.77 and its 200-day moving average price is $132.98. The stock has a market cap of $17.17 billion, a PE ratio of 490.10 and a beta of 0.71. SBA Communications Corporation has a 12 month low of $95.66 and a 12 month high of $154.71.

SBA Communications Corporation (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). The firm had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $426.10 million. SBA Communications Corporation had a negative return on equity of 2.64% and a net margin of 2.19%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $1.48 earnings per share. Analysts anticipate that SBA Communications Corporation will post $0.94 EPS for the current fiscal year.

SBAC has been the topic of several analyst reports. Citigroup Inc. lifted their target price on SBA Communications Corporation from $140.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, August 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $159.00 target price (up previously from $147.00) on shares of SBA Communications Corporation in a research report on Thursday, August 24th. BidaskClub raised SBA Communications Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research cut SBA Communications Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of SBA Communications Corporation in a research report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. SBA Communications Corporation presently has a consensus rating of “Buy” and an average target price of $145.62.

SBA Communications Corporation 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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