Fmr LLC reduced its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 36.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,058,376 shares of the technology company’s stock after selling 613,880 shares during the period. Fmr LLC owned approximately 0.87% of SBA Communications Corporation worth $142,775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Mutual of America Capital Management LLC increased its position in SBA Communications Corporation by 20.0% during the first quarter. Mutual of America Capital Management LLC now owns 4,797 shares of the technology company’s stock worth $577,000 after purchasing an additional 798 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in SBA Communications Corporation during the first quarter worth about $965,000. Stifel Financial Corp increased its position in SBA Communications Corporation by 19.2% during the first quarter. Stifel Financial Corp now owns 9,103 shares of the technology company’s stock worth $1,091,000 after purchasing an additional 1,465 shares during the last quarter. Alliancebernstein L.P. increased its position in SBA Communications Corporation by 22.3% during the first quarter. Alliancebernstein L.P. now owns 107,917 shares of the technology company’s stock worth $12,990,000 after purchasing an additional 19,697 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in 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 worth $146,000 after purchasing an additional 177 shares during the last quarter. 92.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SBA Communications Corporation (SBAC) opened at 147.32 on Friday. The firm has a market capitalization of $17.73 billion, a PE ratio of 506.25 and a beta of 0.69. The firm’s 50 day moving average is $147.51 and its 200-day moving average is $135.35. 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 posted its quarterly earnings data on Monday, July 31st. The technology company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.64%. The company 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 company earned $1.48 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. On average, analysts expect that SBA Communications Corporation will post $0.94 EPS for the current fiscal year.

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Several equities research analysts recently issued reports on SBAC shares. Stifel Nicolaus restated a “buy” rating and set a $160.00 price objective (up from $148.00) on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Jefferies Group LLC raised their price objective on shares of SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada restated a “buy” rating on shares of SBA Communications Corporation in a research report on Wednesday, August 2nd. BidaskClub cut shares of SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 9th. Finally, Zacks Investment Research cut shares of SBA Communications Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $147.36.

In other news, Director George R. Krouse, Jr. sold 1,643 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $138.63, for a total transaction of $227,769.09. Following the completion of the transaction, the director now owns 11,643 shares of the company’s stock, valued at approximately $1,614,069.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Brian D. Lazarus sold 7,376 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the transaction, the senior vice president now directly owns 17,525 shares of the company’s stock, valued at approximately $2,660,119.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,674 shares of company stock valued at $2,706,217. Corporate 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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